Mid-Term Forecast Trading suggestion: . There is a possibility of temporary retracement to suggested support line (7.4086). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USDTRY is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a...
In dollar terms, the Turkish Banking Index is in a long-term squeeze. With the new works that started to arrive, albeit late, after the Lira's compression, we can see that the index can throw itself back to the upper band at the end of 2020 and at the beginning of 2021. The estimated return on a rise up to horizontal resistance will also be over 200%... ...
Hello traders, USDTRY is bullish, clearly in a five-wave move, up from 5.64 level. We can see waves (I), (II), (III) and (IV) as completed, so recovery from 6.68 can be part of a final wave (V). Wave (V) is an impulse itself, therefore five legs within is must be seen, before resistance, and a reversal in three legs may show up. Now there are only three legs...
USDTRY doesn't seem bullish to me.
on DAILY: EURTRY is sitting around a strong supply zone in green so we will be looking for objective sell setups on lower timeframes. on H1: EURTRY formed a head and shoulders pattern so we are waiting for a momentum candle close below its neckline to sell. (conservative) Moreover, we are waiting for a new swing to form around our lower red trendline and then...
on DAILY: USDTRY is sitting around a strong supply zone in blue and around all-time-high, so we will be looking for objective sell setups on lower timeframes. on H4: we are waiting for a momentum break below 6.830 in green as our confirmation and trigger. as usual, we target a 2/1 risk/reward ratio.
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (7.4706). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURTRY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
Policymakers in emerging markets frequently complain that foreign capital is fickle. But foreign capital could be forgiven for having a similar gripe about emerging markets. On a conference call on May 6th Turkey’s finance minister, Berat Albayrak, was solicitous and reassuring, telling nervous overseas investors that the country’s dollar reserves were adequate...
Not trading advice in any way. Falling wedge, sellinc climax, big wick trying to form a hammer. Macro for USD is stronger compared to TRY.
usdtry elliottwave perspective view Alternative 1) If it sees around 6.50 (green area) and turns up and is permanent on the red line (above 7.30), the rise started. Alternative 2) If it falls below the green area, it sees around 6.00 (pink area), the rise begins. 7.30 is also important in this. 7.30 must be exceeded for real rise. Alternative 3) Cannot hold in the...
With respect to my idea, Lira is going to collapse and it's last chance to buy dollar for the local investors. 2018 August was the 1st impulse, the final target is 13-14 area -not sure how quick it will be achieved though.
TRY keep losing value everyday I expect a correction before a big move up
It has just surpassed the 6.79 level, and is now heading to the next level at 7.10. The MACD is also showing us some bull strenght, and it the candlesticks were strong surpassing the 6.79 lvl (forming two white soldiers, on the 4H chart, and i believe it'll get to three white soldiers) We can also see a strong bullish trend starting around the early days of...
USD/TRY short term analysis. Harmonic bearish butterfly will go down a lil. Shorting it
Recognise that this demand for USD is squeezing USDTRY into the secondary macro swing targets at 6.60xx. This is completely inline with the forecasts and all those in leveraged positions are inclined to take profits. We are not out of the woods (yet) and large hands will continue to buy dips in USDTRY as long as we remain in risk-off flows. As widely...