We are observing a long-term trend of the depreciation of the Turkish currency. According to the Trend-Based Fib Extension, the 161.8% level is a good resistance and a target for the bulls. At the moment, USDTRY is pressing its ATH and consolidating under it.
I expect an impulse breakout and a continuation of the uptrend.
Best regards EXCAVO
I posted a monthly chart for the Dollar a few months back that showed the Dollar will continue to lose value in the future. This will obviously not happen overnight, but I expect over the course of 2021 the dollar will continue to it downtrend. Looking at the Turkish Lira monthly chart, we see bullish divergence, and several indicators showing strength. If you...
USDTRY'nin olasi gelecek senaryosunda 9.40 hedefine 2022 ilk ceyreginde vuracagini, yil icinde turizm gelirleri ve ihracat kalemlerinin 2020 ve 2021'de yasanan kuculmeleri bir nebze rahatlatacagini, muhalefetin guclenip iktidar partisinin zayifliyor olsunun yarattigi erken secim psikolojisinin hakim gorunumde agirlik sahibi olacagini ongoruyorum. Bunlarin yaninda...
DXY tepki alımları alsada genel dxy trendi aşağı yönlü. Dolar tl paralel kenar üst sınırlarını test edicek ve kritik bölgede bulunmakta eğer kanal üst sınırlarından tepki yemesi halinde 1w/1mo. sfp oluşturabilir ve kısa-orta dönem düşüş trendi başlatabilir eğer kanalı yukarı yönlü kırması halinde bir başka s/r flip gerçekleşecek ve parabolik gitme şansı var....
Usd turkish-lira after getting the record price and can make some stability at here so i think will make a retest to down and then will try to continue their upward.
Entry: under 8.85
Tp.: 8.79 & 8.74 & 8.65
My previous idea about USDTRY : in the below.
How to Calculate Andrews' Pitchfork
Andrews' Pitchfork can be easily applied to price charts without a specialized drawing tool.
Point 1: starting point of uptrend or downtrend.
Points 2 and 3: reaction high and reaction low in the uptrend or downtrend.
Point 1 = starting point of median trend line.
Distance between Points 2 and 3 = channel width.
Draw and extend...
The Euro has lost some value against the Turkish Lira over the past months but has reached the goal for its wave A in green. Now, it is time for another push against the Lira, before longer downward movements set in.
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Today, with the outperformed growth data, Turkish Lira gained around 1% made a successful retest to the breakout zone of formed ascending triangle.
I expect that the currency will gain momentum to finalize the movement through the target of the continuation pattern.
My target area for the currency is $8.95-$9.00.
8.95 is a nice level to take...
We caught a great trade from March going long (Profit/Loss Box Remains)
I just don't see the economic situation getting better anytime soon for Turkey.
I am actually living in Turkey currently, it's a lovely country with wonderful people, food and and and....
I see the break north, on a technical level the "Rising Wedge" pattern illustrated.
%19 Interest rate, huge debts, vaccination progress is still very low.
Turkish Central Bank manager kicked out because of interest rates, but we have still a huge interest rate and USD/TRYis still going forward. What Turkey could do? No tourism income for now, no leverage hand for interest anymore.
Unfortunately, TRY will be 10 soon if we close daily above 8.58....