With 15% rates and promise of economic reform from President Erdogan, USD/TRY might have just topped out at 8.50
The Turkish Lira is gaining strength as markets bet the new Turkish central bank governor will implement an orthodox monetary policy strategy of raising interest rates to bring down high inflation, and demonstrate the central bank is an independent body not influenced by political pressure from President Erdogan.
HELLO EVERYONE Here's an idea on the DOLLAR/ TURKISH LIRA which opened with a gap and an aggressive fall with the bears looking for some correction of this move but we'll definitely see continuation to the downside, now the structure aligning with our fib levels is the resistance level 7.96612 which will be our aggressive target going down with the bears for long...
After a series of stealth measures by the central bank to contain the lira's weakness: such as ceasing to provide funding at its cheapest benchmark rate which began in August, Gov Uysal increased the benchmartk one-week repo rate to 10.25% from 8.25% on Sept 24, 2020. He assessed that such tightening steps should be reinforced with the rate hike to contain...
take profits will come at 7.69 before 7.79 (im updating my previous idea) Pay Attention!
Nice risk/reward trade, breaking below the low of the 12 hour TD9 and also the rising trend line has been lost.
Hey, I am back with another Forex idea as I said, that I will deliver a one Forex Idea every working day. Let's get into chart. Basically USD/TRY has printed a rising wedge which is considered as bearish pattern and is expecting the price to see a spike down. RSI has also printed a bear flag, overall this seems like a good trade. Don't forget to follow me, to...
On the long run, longs will definitely win.. But on short-term, I believe we have more downside..
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.....
Hello world, here we have a candidate which I have flagged for my watchlist. This is not a trade I am taking, just an interesting chart! We have: - a key weekly level reached - quite some time without a proper retracement - and highly overvalued RSI - a bit of price action forming at this key level - shorter then average previous candles (only) indicating (!)...