Considering the chaotic political situation caused by the upcoming elections in Turkey and considering the technical situation of the dollar lira chart, I expect it to experience a strange growth up to the range of 34.22.
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Warning:
This is just a suggestion and we do not guarantee profits. We advise you analyze the chart before opening any position.
I hope you are always profitable
The pair makes every day higher highs, and what has been told is the constant purchasing of US dollar and the central bank inability to stop the flow.
However, it is not a new story, and we can see on the chart (where RED arrow), we can indeed correct sharply. The RSIs were very extreme, and currently across the board, the daily, weekly and monthly chart are at...
Of course, the pair is a controlled mechanism, and fast buyers of USD which makes it difficult for the central bank.
We are nearing 2nd voting 28th May 2023, and amidst that extremely high inflation. So either we get a completely new currency, or we have a large correction upcoming. Those living in Turkey are far more expert than me on the current situation...
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⏰23/May/23
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According to the chart on forex.com, it may be funny to analyze a currency whose country is suffering from a crisis like an earthquake, because it is a crisis and it makes the currency of poor quality, but when we investigate further, we see that all these events in the currency are related to political events and The new crisis of the earthquake shook the...
No change in view, and I believe the pair might have its dramatic correction after the election results May 14th, if not mistaken.
The technical picture is extremely overbought, and we do need a solid correction moving towards 12.50-15.00 at least before we resume upwards again.
Strategy is remain SHORT at various levels, and take profit @ 15.25 and next @ 13.50.
Could the upcoming Turkey election effect how their currency lira performs against western currencies including the USD? Any potential new leader may be able to get the lira to be much stronger then over the last few years. As for today, the USD against the Turkish lira is the only currency which seems to be somewhat strong in the world of Oanda forex. When my...
This analysis may be right or wrong. I always hope for the best and the best for the Turkish people, but my analysis is based on data only and not on wishes and the rules of Elliott science. This time frame is three months, which means a large frame and its implementation needs many years.
The currency rose in one large extended wave and made wave two, and it is...
It's been a while since I tracked the #usdtry pair. You can also find my past reviews below for comparison.
Concerns over
- high inflation,
- high levels of debt
- external financing needs
- geopolitical tensions
- a looser monetary policy stance to support economic growth
- high-level gov. corruption
- pressure on the parity
imo parity will be stabilized around 33-46
For sure some comments coming my way.
I remain from a technical perspective to be SHORT @ anywhere 18.00-21.00 for a move below 15.00. The election is coming soon, and any major change may bring the pair much lower.
Further, RSI extreme, and MACD is actually negative for the monthly chart.
I understand previous comments that it is not good for the country to...
USDTRY looks bullish over 50 SMA moving average line. I expect a bullish continuation of the late 2022 upside swing. RSI indicator shows over 50 bullish zone also.
Possible short-term targets
19.70
19.90
I think the price could test the psychological 20.00 level
USDTRY reached to the maximum level of upswing trend of 2021 on 19.30 point.
Price is losing momentum with 25 EMA and Relative Strenght index.
I think USDTRY need some pullback it can be fast like previous swing.
Possible targets 16.10 and 14.20
DO NOT FORGET USING A STOP LOSS
Warning:
This is just a suggestion and we do not guarantee profits. We advise you analyze the chart before opening any position.
I hope you are always profitable
