Last week, the Turkish central bank made a significant move by raising rates by 750 basis points. This caused a sharp downward movement in the US dollar relative to the Turkish lira. Since then, there has been a notable response, with the market showing a sharp rebound.
During times of such volatile market reactions, it's valuable to examine Fibonacci...
The Turkish Bubble. How it formed and why it will probably keep deflating for years to come.
In short, Turkey was motivated to modernize its economy in the wake of Greece's adoption of the Euro which solved Greece's inflation problem overnight. Turkey proceeded to revalue its currency essentially by removing six zeros from its banknotes. It also made a pledge...
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Hello traders.
I have been in a bit of a pickle this month: between elections in the US and a stalling EUR/USD,
my demo took a bit of a hit (more than I care to tell) and one big mistake was to go long SP500
on the NYSE open the very day that a Covid19 vaccine was announced... There was optimism on
Wall Street and I was looking for some direction in anything that...
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.
You will learn the best place where we can trade this instrument at low risk.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my...
USDTRY is sitting around a strong supply zone in blue so we will be looking for objective sell setups.
this one formed an objective channel in red and broke its lower red trendline downward, but we didn't sell yet, as we are waiting for a momentum candle close below its last swing for more confirmation.
we also have a regular bearish divergence adding more...
on DAILY: USDTRY is still trading around its all-time-high so we will be looking for objective sell setups on lower timeframes.
on H1: USDTRY formed an objective channel in red and it is approaching a minor supply zone in blue so we are waiting for a momentum candle close below the last swing that forms around our lower red trendline to sell.
meanwhile, until...
USDTRY TOP-DOWN ANALYSIS
we are waiting for an objective break below our red or blue trendline to sell this one
Reason:
1- Regular Bearish Divergence on MACD (in blue)
2- Objective Channel, still forming (in blue)
4- Supply / Round number 7.000 (in purple)
Three confluences are enough to consider Selling USDTRY, after an objective break below our trendlines.
Hello dear Forex friends, and welcome to this Turkish Lira analysis! ;)
A big break is coming for the USD/TRY, since we're tightening for 1 year after we had reached 7 Lira. Have fun watching! ;)
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