Market sentiment: Bullish trend Market is approaching significant resistance Weakening bullish momentum RSI overbought + divergence Head and shoulders pattern formation Wait and sell breakout of the neckline. Targets are based on structure! Please, check my signature!
=> For those who believe in the bearish Turkey story, we are in the early stages of a 5th wave which we mentioned in our previous ideas... it can be seen clearly here and shows how the floodgates for the highs are wide open. From a technical perspective the 5th wave target, the first major target is 7.85 (assuming wave 5 is a 1.00 ratio in length of wave 1)....
Hi TRADERS As fundamental aspect ,there is no chance for TURKISH LIRA (TRY) to win this battle.there were election in turkey couple days ago and it had a massive effect on the country because the party that does belong the president( Erdogan ) lose the election who doesn't like and want that and the instability already have started. I indicate the Eliot...
Monday was a very busy day for financial markets. It was partly due to the processing of weekend news (May's statement on Brexit, the results of the elections in Turkey), partly with new news stories. But first things first. Brexit news. May’s attempt to hold the fourth vote in a row failed so far. Monday didn’t bring anything new to the current Brexit...
Almost six months after the rate hike which pushed Turkish interest rates to 24%, the Turkish Central Bank wants local banks to use one of two more expensive funding windows, standing at 25.5% and 27% respectively, as it suspended one-week repo auctions for an unspecified period, as it announced on March 22. The announcement came less than a year after the Central...
No one has a crystal ball for the Forex market, but what we do have to look at is history. Although past performance does not guarantee future results, when it comes to the Turkish Lira’s current situation, history shows some alarming parallels. The patterns do repeat themselves -- and with good reason. The stock/ Forex market is governed by a set of two...
Interesting to note that despite the nice gains Turkish equities saw in January 2019 (+15.7%) to make up for December 2018 (-6.87%), the asset class has experienced some nasty losses in February (-3.63%) and March (-4.36% so far) - all of which are quickly eroding all YTD gains. Its the only EM market to have suffered such losses so far (rivaling that of South...
Interesting to note that despite the nice gains Turkish equities saw in January 2019 (+15.7%) to make up for December 2018 (-6.87%), the asset class has experienced some nasty losses in February (-3.63%) and March (-4.36% so far) - all of which are quickly eroding all YTD gains. Its the only EM market to have suffered such losses so far (rivaling that of South...
This trade is not part of my usual price action trading strategy. It is longer-term play based on the Ichimokucloud technicals (kumo turning bullish on eurtry and chikou broke past prices), but also the fundamentals. As the new year has come, prices of essential things like energy and water have doubled for my family living in Turkey. Other bills for the new year...
The USD/TRY currency pair is moving in a gradual uptrend. We can expect prices to fall towards the support formed by the trendline and possibly buy orders can be placed here
This turkey must think now that its a couple months after thanksgiving that its safe to roam the charts out in the open...however, when a deathcross turkey appears it typically tends to bring hungry bears soon after it. in 10 minutes from now we should see the 3 hour death cross occur on btc...on xrp when the 3 hour death cross occurred recently it coincided with...
The devaluation of the Turkish (new) lira continues to the fullest and shows how strong a current wave 3 is within the impulse wave. The confidence of the own population in the monetary policy decreases more and more and even interest rates on 2-year government bonds of just under 20% and 17% on 10-year government bonds as a foreign investor do not compensate for...
Blue labels indicate that the correction is over within WXYXZ triple three corrective structure and we can retest the former top above TRY 7. White labels imply longer consolidation within WXY double three pattern with retesting of former low before the final devaluation. Both maps show that lira could weaken to 6+ level first.
Gann, angles, equillibrium, things to study.