USDTRY completed a flat correction, looking for more upside. Look for entries on pullback.
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...
Above 5.4500 Usdtry moves to 5.54 target level strongly. Despite the Central Bank of Turkey's interest decisioin, usdtry continues to rise from thursday. With strong dxy the drop on the pair seems impossible.
Just prediction nothing more. it is not invest advice
USDTRY - Turkish Lira - Possibility of Uptrend
USDTRY / TECHNICAL CHART
From elliot wave analysis, i see that usdtry pair has finished 5 wave structure then started to a-b-c correction. Also at 5,54 price level i see double top formation and during this time, you can see bearish divergences at macd line and histogram so my first expectation from usd/try is to drop around 5,32 price level. Then if inclined support is broken, we can...
We will most likely see a gradual downward movement until 31 March 2019 elections. After that date I expect to see 5.x/6.x/7.x levels in 2019. ''only for educational purposes''
The devaluation of the Turkish (new) lira continues to the fullest and shows how strong a current wave 3 is within the impulse wave. The confidence of the own population in the monetary policy decreases more and more and even interest rates on 2-year government bonds of just under 20% and 17% on 10-year government bonds as a foreign investor do not compensate for...
USDTRY has a falling wedge formation on the weekly chart. If this week closes above 5.31 falling wedge breakout will be confirmed. Stoch RSI is extremely oversold on the weekly chart. Tom Demark count gave a red 9 and counted extra 3 bars. In upcoming weeks I expect a bullish rally to start. Here is my long term trading idea: Long at: 5.26 - 5.31 Take profit...
USDTRY counted red 9 according to Tom Demark count. After red 9 we expect a trend reversal. Weekly Stoch RSI is at historically low levels. Bollinger Bands are very narrow at the daily chart. I expect a bullish breakout within this month. Major resistance areas are: 5.33 (daily MA20), 5.43 (fib 0.5) and 5.72 (weekly MA20). Major support is at: 5.05 (fib...
USDTRY has been in a downward parallel channel. Going short at following preferences: Short: @ 5.4995 TP: @ 5.0944 (+4000 Pips) SL: @ 5.5707 (-764 Pips) RR: 5.24
Price made a fake broke of Mirror level 5,68 Daily chart is closing above it. Technically that the best signal that price will make up move to next key level 5,93 Fundamentally the main reason why USD/TRY will move up is: The Dollar becomes stronger against all major currencies (EURO, GBP, AUD, NZD, CHF). Push like and Subscribe
FX:USDTRY / Support Channel & ABCD Don't forget to use %2 Risk Management DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.