After a massive fall because of a hike in interest rates in Turkey, EURTRY bulls managed to stage a weak recovery within a corrective channel. I think the channel will be broken to the downside soon.
Good luck,
Ali Sharifazadeh, CFTe
Selling Lira because the overnight funding you sometimes get is just insanity! On my broker I get 0.05% on my LEVERAGED position... PER NIGHT! That's 1% in just three weeks!
For example I sell a position for $1000 which is leveraged x100 = $100,000. I get $1000 in just three weeks which is my initial investment, this means I make 100% ROE in three weeks if market...
One of my favourite pairs this weekend. So much confluence for an upside leg. Let's break it down.
1) Price printed a doji on the last trading day. That is a somewhat sign of reversal.
2) Price printed the doji at a strong area of support . We can see how many times the price has jumped from this area in the past (green circles)
3) Price printed the doji at a...
Possible buy on EURTRY target 6.43. possible inverse head and shoulders visible. daily trendline broken and retested. waiting for confirmation candle stick entry. stop loss below previous 4hr low.
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 6.2900
• Take Profit Level:...
as we know today we will be some political issues (like arrival of s400). but reaction will delay to new weak (too hing swap costs). but sunday/monday mid night show begins.... and who know when it ends...
good hunting
Check myfxbook profile, link on my website tradewithme.co.uk. I'm looking for a long trade on this pair, I've already placed my trade so lets see what the market will do.
Although the multi-year parabola looks like it wants to break down here, I still tend to think it'll take a leg up and we are just shaking out weak hands?!
The Euro vs. the Turkish Lira. Traders have been attracted to this pair because of its high volatility during pre-crisis conditions, however, due to monetary policy aimed to maintain price stability in the Euro-Zone volatility has declined. In the past, the Turkish Lira has been pegged to currencies such as the British Pound, the French Franc and most recently the U.S. Dollar.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
