If you get involved in provocative acts, saying ‘foreign currencies will strengthen, this will happen, that will happen’, you will pay a very heavy price - Erdogan
Fundamental Quant Score +60
Fundamental Quant Score -4
Investors seek reforms, fear populism
Lira initially weakened 2.5 percent
Shares rise 1 percent (Updates lira, adds London swap rates,...
USDTRY 4H Sell and Buy Setup
TP3: 5.71000 -5.7000
This is not investment advice
Obviously I do not use sl , adjust according to your own account
welcome to another free signal!
Important: After the consolidation and the Breakout we still trade against the trend!
Make sure to trade with less risk as possible and don`t get greedy! ;-)
The sell-off or Breakout is caused by the FEDs statement saying they won`t increase
the interest-rate this year...
Price has now bounced off resistance zone
Price has now bounced off the trendline
Price on a downtrend on daily
TP1: 5.29 (area where MMs might try to take stops before the big short)
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...