Explaining gold & BTC late July - early August upside price action: (Hint: it’s not “US money printing” - that’s clearly not a sudden new phenomenon to explain why NOW) Turkish Lira under attack from inflation mismanagement by President Erdogan & CBRT (Cent Bank Republic of Turkey). CBRT buys gold with dwindling FX reserves, citizens pile into crypto Turk lira...
I am following this crab harmonic about 6-12 months. Doing so well till now ...
EM currency pairs and exotics seems to continue their uptrend $USDMXN $USDZAR $USDRUB among the others. Now is a good moment for the trade entries.
Right now, two forex pairs that I think will have yet another real quick positive retracement curve are USDMXN and USDTRY. I am keeping a close watch on an entry for these two. I also see some positive sentiment indicating more support levels. As always, please proceed with caution. Do your own due diligence. Everything I say is solely on an opinion based basis...
USDTRY doesn't seem bullish to me.
No one has a crystal ball for the Forex market, but what we do have to look at is history. Although past performance does not guarantee future results, when it comes to the Turkish Lira’s current situation, history shows some alarming parallels. The patterns do repeat themselves -- and with good reason. The stock/ Forex market is governed by a set of two...
📌 The buyers constitute a formidable opponent holding the breakup and putting sellers out of action. The moves are ready, to fend off another wave of risk looks impossible now and Turkey will suffer a major hammer that may be unendurable for local banks. A break above 7.20xx will unlock the widely track 7.80xx since last year. If buyers hold (and it looks...
Bearish investors are looking for an opening to take down the already weak US dollar. The exchange rate is predicted to go down to its support level in the coming sessions as the greenback continues to weaken in the trading sessions. That should help bearish investors force the 50-day moving average to slightly go down towards the 200-day moving average. Just...
To be used directly in alignment with the trades I'm taking this week, such as the current short I have for the EUR/USD, with a downside swing-target posted to my clients.
Welcome to this analysis on USD/TRY. USD/TRY has established an uptrend from the 2nd of June till the 17th of June, Since then it has been trading in a tight rectangle range between 6.834 and 6.858 which broke to the upside before the market close last week. Currently, it looks like it is finding support above the range which can be a sign of continuation of the...