This is just a quick look at the USDTRY pair. I'm evaluating the recent recovery of the Turkish Lira versus the dollar from about 8.5 TL per dollar to 7.3 TL. In my estimation, this recovery has not shown enough strength to continue. We can see that as soon as it touched the bottom of the drawn curve, RSI has reached the bottom of its parallel channel. That's as...
i think Turkish lira in coming down again all goverement can be force anything in future its not financial advice just idea from chart
The Turkish lira crashed to another record low on Friday and shot to the 16.85-90 region against its American counterpart during the first half of the European session. The strong move up over the past two days or so comes after President Recep Tayyip Erdogan announced on Thursday to raise the minimum wage by 50% starting next year. Erdogan also said that the...
Inflation is running hot in Turkey at 21% YoY & soon to surpass the 2019 high of 25%. And yesterday the central bank, or dare we say President Erdogan, cut the weekly repo rate by 100 bp to 14%. His theory is that lower rates will tame inflation. And the Turkish Lira promptly hit an all-time low against the US dollar. President Erdogan for chair of the US Fed, anyone?
50% gains in a month - bullish! Tough times ahead for the Lira.
US dollar vs Turkish-Lira , again and again upward. —- Upward Above 14.11 Tp.: 14.62 & 14.95 & 15.45 Sl.: 13.75
Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (14.00). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic...
Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (14.00). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a...
USDTRY, in the previous idea we said will get 14.55 also we got it, and now also try to get another upward because Turkish Lira hava a politician’s and national problem. ——- Upward Above 14.11 Tp.: 14.62 & 14.95 & 15.45 Sl.: 13.75
USD/TRY yesterday remains range-bound near $12.40 heading into Monday’s European session. The Turkish lira (TRY) pair snapped a two-day downtrend the previous day while staying past a weekly ascending support line. Given the MACD line teasing bullish cross, as the quote remains above the short-term rising support line, USD/TRY buyers are likely to aim for the...
The chart pretty much explains itself. If the Turkish Central Bank can't interfere at the right time and place, we'll be seeing the Turkish Lira losing even more value and USD becoming equal to 8.70 Turkish Liras in December. Then we might see a retraction just like Bitcoin as the parabolic growth becomes unsustainable.
The analysis I make is just an idea not an investment advice. Please manage your risk while trading and please make your investment decisions only by yourself.
"It's Okay to be Wrong, not Okay to Stay Wrong!" "Better to be out of the market wishing you were in, rather than being in the market wishing you were out!" Be real careful here as the market internals are weakening quickly. As I mentioned in the last video comments "Be careful! This is not the same market it was a year ago. Buying the dip may not be a good idea."
Hello If breaking 490 down TRY will probably reach 430. After that, it can reverses up until 845 or more (900) if the bottom of the bleu corridor won't present kind of brake to that uptrend. So, that what i think Kep in mind, that i'm not exploiding a magic cristal ball, but i try to be more efficient and more rational in my trading way. Thank you and good luck
Back on March 31 of this year I posted this charts below. Unfortunately I had tried to demonstrate the imamate collapse of the TRY and posted the chart of TRYUSD instead of posting the correct ticker USDTRY. As such I marked long TRYUSD instead of Long USDTRY. None the less the comments do not signal bullish for the TRY. it has lost 40% of its value in just days...
This is for entertainment purpose only. If we consider Elliott Waves count on a Point and Figure Chart, one may see a possible wave count. The count is imaginary which may reflect the current and future sentiment on the Turkish Lira Trend.
Could this uptrend channel control the trend? What happened if the pair breaks the upper trend line?