The Turkish Lira continues to weaken which we can see in this chart where the US Dollar is displaying dominance over the Lira. Since the last post, price has risen by 1,390 pips which is 1.8%. Based on the weekly timeframe, price has not yet formed a clean pullback so we may be due one. But if the trend is strong, then we may not see a pullback for some...
Price broke up from major liquidity base and is in unchartered waters. In such case I would watch round numbers levels. I would expect a reaction at 8000. Watch what price does at that level. Right now we hit October H3 reversal level. There is a chance of reversal here.
Just for shits and giggles. Be careful out there. Never trade with leverage, always seek professional advice - or better be your own trading/financial advisor.
Hello everyone, here is the top-down analysis for GBPTRY, feel free to request any pair/instrument or ask any questions in the comment section below. Best of luck!
Nice and clear up trend on the Turkish Lira with many buying opportunities, I guess we'll see some corrections and we can buy when touching the lower boundaries of the Fibonacci channel and we see HH and HL on the 1H chart.
Tam burada 200bps faiz artırdık Etkisi ne olacak? Esas sorumuz bu. Düzeltme tetiklenirse aşağıda destek olarak 7.26 Tepe aşılırsa yukarıda 8.25 bizi bekliyor. Right here we raised 200bps interest rate Our main question is what will be the effect? 7.26 as support below if correction triggered If USDTRY hit and pass the higher-high 8.25 above awaits us.
After a series of stealth measures by the central bank to contain the lira's weakness: such as ceasing to provide funding at its cheapest benchmark rate which began in August, Gov Uysal increased the benchmartk one-week repo rate to 10.25% from 8.25% on Sept 24, 2020. He assessed that such tightening steps should be reinforced with the rate hike to contain...
Hello everyone! EURTRY will continue the uptrend after breaking out of the triangle. Wait for a breakout at 8.86300
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.