Hi all, wait for pull back near support zone & setup long position!
I'm now bearish for LIRA. It can be a good opp. for bringing average Price down. 5.65-5.78TL range will be a good entry
The struggle for democracy is being carried out and as long as Erdogan remains at the helm there is only one direction for TRY. Autocrats are typically sticky in nature and difficult to remove, the attack should first be aimed at the currency which will be the base of the capitulation. Attacking the 7.8 will break local bank and looks imminent as markets receive...
Please support this idea with LIKE if you find it useful. Price formed an Ascending Triangle, that is a bullish pattern. We can initiate a long position if there is a confirmed breakout of Resistance level. Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate....
Turkish lira is near to its end, bow trading at 6.1096. Long term technical analysis shows corrections of this trend to S1 support level 5.9880, next target can be S2 level. This levels are calculating based on long term fibonacci retracement, also confirmation fo our analisys can be pattern wedge with trendlines T1-T2. Crossing of T1 will be a signal to sell USDTRY.
On the Turkey side we have updates coming from the local banks, a lot of interest in USD exposure as TRY is set to suffer further via spillover effects. The EM FX is all centred around coronavirus flows and the knock-on impact this will have on global growth, here looking for a dip back towards the lows, a fresh sweep would make it very easy to trade going into...
1) Potential double top forming on daily chart, near 6.00 round-number 2) US/TR 2-year yield differentials forming slight divergence 3) RSI forms a bearish divergence 4) Positioning and data support a stronger USD - possible headwind for the setup 5) Break above 6.00 invalidates the idea
that's a big Picture from my last Chart. USD CAN DROP AFTER TRIPLE TOP. Would buy real estate there before Prices will go up like 30-50% in coming years.
The price is near the Support/Resistance Zone. We can open Buy if daily candle will close above. Potential profit will be in 3...5 times bigger than risk. Push like if you think this is a useful idea! Before to trade my ideas make your own analyze. Write your comments and questions here! Thanks for your support!
With the year almost up, a good time to update the USDTRY chart. Smart money has been tracking Turkish rates, the short end has been screaming weakness and markets not interest in any more BS with the dictator in charge. S400 remains a thorn in the shoe and blackmailing to close NATO bases is leaving a nasty aftertaste. For those who have been tracking the...
USDTRY is bullish, moving in a rising channel and intertwined patterns&the probable of the Bearish Bat Pattern D leg's levels.. seems likely to rise probability on the medium-long term. Good luck!
USDTRY BROKE THE RESISTANCE / BULLISH
Turkish Lira has finally broken above 5.8 resistance level. Now we can expect further bullish continuation to higher structure levels 5.85 5.90
Symmetric Triangle - with forming a higher low as cup's base. Cup&Handle Formation - if it closes the handle, target is 7.50. I think it will break up finally. Bullish.
U.S even with ''great'' fundamentals have its economy still being hurt by economic data with GDP, CPI and Interest Rates being slowed down. Regarding the Technical with the diagonal downside trend line it is an easy trade to just put your stop loss above where the trend line was last touched and take profit towards the next support. Thank me later
The pair is trading within a Channel Up on 1D (RSI = 62.022, MACD = 0.054, Highs/Lows = 0.0493) since the August bottom. It is currently in the process of pulling back for a Higher Low and that will be our opportunity to buy. TP = 6.1000. Notice how when the RSI turns sideways it denotes a Channel pattern, both on the downtrend and uptrend. ** If you like...