Hey tradomaniacs,
chart speaks for itsself. :-)
Let`s see what will happen.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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USDTRY looks to be retesting for the buy. A nice head and shoulders, exhaustion to the downside, it looks solid, However, if it breaks the lows closeout and take the sell.
Hello traders!
Price broke out a strong resistance trend coming from the top and is diverging. Now we can look for correction before buying USDTRY.
Thank you for your likes and support:)
Trade with care!
Good Luck!
Pattern: Channel Down on 1D.
Signal: Bullish since the pattern broke upwards but need confirmation by a "False" Death Cross possibly after a new dip.
Target: 5.95000 (the 0.618 Fibonacci Retracement level).
USDTRY / Daily / Technical Chart
Last week I was share this analysis
At 61.8 whcih I mention, bulls enter the market, now price touch to resistance line, and it can break the resistance line with news about Turkey,
Lets wait the news now
I think create a long position because
- RTE factor
- Cyprus oil Problem
- Kurdish (Syria) Problem
- Economic indicators
- Graph indicator / Technic Analysis (StochRSI + MACD + Mov50 + TD)
The US Dollar vs. the new Turkish Lira. A new version of the Turkish Lira was established in 2005 after the value of the old Lira fell to drastically low levels. The Turkish economy relies on the foreign cash looking for short term profits making the Lira subject to severe depreciation. Political conditions and EU economic issues have delayed Turkey's effort to join the Euro-Zone.
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