Shorting USDTRY @7.43 Interest rates are very high (17%), therefore it seems unlikely to break the 7.44 resistance. The Chief of Central Bank says that they can increase the interest rates if foreign exchanges rise against Turkish Lira.
If the rising wedge will be broken, I will go for short until 7.20-7.25 support level. Stop loss above the resistance line.
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USDTRY has a weekly resistance at 6.87673. After breaking that resistance, USDTRY will move through 7. Also 0.236 Fibonacci level valued at 6.9729 is another important level for USDTRY. Thanks you all. Have a great week. Feedback always appreciated.
Because of MACD divergence, I expect the price go up to Fibonacci level of 50, then fall to the lowest point between the divergence .
#USDTRY seems to breathe a little after refreshing its peak point.. In the following process; We can observe a structure as I stated in the chart.. The targets in the chart should be followed in the medium term.. I think cup and handle will occur when correction phase is finished.. Disclaimer: Please do your own due diligence when it comes to forex-trading.....
We have been observing a horizontal trend for a while in USDTRY.. In the four-hour chart, we see the ascending triangle pattern.. The falling wedge pattern is clearly noticeable in the RSI, and if the pattern works, the upward price movements may harden and the peak point of 7.20 can be tested.. Also; I think the reference values (54) and (45) in RSI are very...
I think it is quite meaningful to analyze #USDTRY within the framework of market cycles rather than classical technical instruments.. From my point of view we are very close to the part where USDTRY will experience sharp increases in the market cycle.. If we approach the daily chart from a wide window, we can easily see that very similar movements are repeated...
As more measures by the Turkish bank, limiting the supply of TRY to specultors , USDTRY will retest 5.5 within 3-6 months. Inflation will probably go down with the huge decrease of oil prices and basic raw material.
Hello friends, I wish you all the best. I shared the necessary information on the chart. He made 3 peaks 2 times and had a correction. It is useful to be careful after this point. He can make the last 3 hills and go to the big correction. This analysis is not investment advice. If my sharing has helped you and has an idea, you can like and support it. stay tuned...
Hello friends, I wish you all the best. I see the dollar as the 6.93 critical place. It is useful to be careful that it can throw 7.04 needles and close below 6.93. If closing above 6.93 comes, there is a possibility of going up to 7.36. This analysis is not investment advice. If my sharing has helped you and has an idea, you can like and support it.
Forget the rush to safety, the USD will break. It has to break because the whole world depends on it for liquidity. The greenback must crash as a #coronavirus safety valve. TRY averaging with positive swaps. Short the double bar bear reversal pattern with high trading volumes until it breaks!
Dolar TL 6.5TL de direnc görüp tekrar 6TL'lere gevseyebilir. Sonrasında 7 TL görülebilir. Fakat yaklaşık 1 sene sonra öyle bir düşüş dalgası olabilir ki 3.5TL'den 7TL'lere cıktığı gibi düşüş rallisi yapabilir. Unutmayın bu sene öyle bir sene ki yıllardır beyinlere yerleşmiş her ne varsa yıkılma zamanı. Finansal piyasalarda sok üstüne sok görme zamanı...
USDTRY 4H BUY POSITION PIN BAR FORMATION