Time to SHORT "EUR/TRY" (Bearish Butterfly + Divergence)I see bearish butterfly on the weekly chart + bearish ab=cd on the daily chart in addition to these harmonic signals, rsi and macd gives bearish divergence on daily chart so it is a very good oppurtunity to short FX:EURTRY My target is around 4,512-4.568. Stop loss:4,747 Have a nice day. Mr. BerkShortby Mr_BerkUpdated 8
EURTRY - a case for trend continuation-Strong trend, would take price into new all time highs -15 Week continuation cup and handle -Significant retests of boundary -Price has since turned down, but is worth watching for an symmetric risk/reward trade -Very similar pattern forming on GBPTRY worth looking at also -Looking to establish 100 basis points of risk in two tranches Also see youtu.be for a fantastic educational video on the cup and handle as a continuation pattern by Akel Kibar, an esteemed classical chartist Longby TomKirkUpdated 3
EUR/TRY MASSIVE DOUBLE TOP RSI DIVERGENCE ON THE WEEKLYThis will be a massive setup and a great swing trade, looking to go short and hold this trade for a very long time. Shortby lostamerica140
It's time to fallEur is loosing it's steam and the price of this cross is unsustainable without a strong EUR A long term market pressure (-4.2) confirm the downtrend a long term market pressure (-8.2) confirm that the trend is already started. A really good positive swap will help the fallShortby MarketMiracleAdvisor3
EURTRY potential reversal to downsidePrice action shows the buyers are loosing commitment to push price above the indicated resistance level for the past few weeks. The RSI is also showing divergence to the downside which means the previous buying momentum that was driving the uptrend is weakening, indicating in advance that a reversal may be looming. The other factor weighing in that will encourage sellers is the interest rate differentials between the EUR and TRY, the interest rates are heavily weighted in favour of buying TRY and selling EUR. For those that don't understand how interest rates are linked to currencies, a strategy used by businesses and financial institutions is to borrow money in the lower interest country and invest those funds in the higher interest rate country, making a profit from the interest rate differential, so in this case it would be favourable to sell the EUR and buy TRY, this applies downward pressure on this pair. All these factors are weighing towards a potential downward reversal however price action confirmation would be needed before entering a trade. Offcourse, all this could be wrong and it's just a consolidation before the next up move.Shortby asferruzzi2
What for a Break out EURTRY Analysis February 8, 2018What for a break out probably below the middle BB and short with targets below 4.4Shortby Kipyegonn1
Will TRY down with Global Equties Sell Off?If Turkish inflaion is contained then continued economic growth should keep demand for TRY intact. Most important is the Private USD and EUR financing by the Turkish Private Sector should be contained. If contained then it will give stability and room for CBRT to maneuver.Longby forexsarawak0
EURTRYEURTRY Bearish divergence on daily rsi Waiting a move through 4.61 SL : around 4.72 Shortby blackofcryptoUpdated 0
EUR/TRY 1H Chart: Breached up-trendThe common European currency has appreciated substantially against the Turkish Lira during the previous nine months. The pair managed to reach a record high of 4.72 in late November and approached close this area once more last week. The general trend during the previous four weeks has been upwards, as shown by the dashed line. The Euro remained sticky to this line during for several sessions prior to breaching it earlier today. This factor together with the rate’s inability to pick up speed in the aforementioned long-term channel suggests that the bullish momentum might be gradually allaying. In case the 200-hour SMA near 4.66 is breached, traders should expect a fall down to the 4.60/4.63 area within the following two weeks. On the other hand, the failure to fulfill this scenario should guide the Euro towards 4.76. Shortby UnknownUnicorn8906904