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...
USDTRY may break below 5.00 before June '19. TP Levels : 4.90 , 4.80 , 4.70.
I do not do position trading that lasts months and months do not count on me to update on this (might have if we still had unlimited leverages but now I can't have 30% of my capital with 1 broker just waiting for a 6 month or 2 years move). The fundamentals have no changed, at least they have not gotten better. Looking like textbook market cycle, because it...
The yellow trendlines show my forecast about USDTRY. I'm expecting a rise in USDTRY prices toward the upper yellow line.
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
=> For those who believe in the bearish Turkey story, yet again we are at significant value areas for USDTRY longs. The 5th wave we mentioned in our previous idea can be seen clearly here and shows how the floodgates for 7.80 are wide open. => From a technical perspective the 5th wave target, the first major target is 6.78 (assuming wave 5 is a 1.00 ratio in...
Today’s analysis for the USD/TRY starts from a look at the daily chart to get an idea of what the medium-term outlook is like. From the daily chart shown below, a key price level which is now acting as a medium-term resistance is identified. This is the site at which price found support three times in December 2018 (1, 2 and 3), as well as once in January 2019...
USDTRY staring a sell-off in Intermediate (5) (red) so it can complete Primary C (red) and Cycle Wave IV (green).
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
I expect USD to go to 8 Turkish Lira towards June then anticipate a break of the partially parabolic rise at the top to then find support at the highlighted regions in the following years. I expect this fall due to the US dollar being reduced of its global reserve status because of the use of decentralized digital bridge assets in trade and thus enabling a more...
Chart is pretty self-explanatory. Monitoring. Break of a trend line or support/resistance can be seen as support for shorts/longs. //DYORb4investing//