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EUR TRY

EUR/TRY LONG IDEA. History can and does repeat itself!Refer to my USD/TRY idea linked to this idea. When I trade one pair, I also like to study the market structure of correlating pairs. USD/TRY and EUR/TRY correlating pairs. In my high level analysis we see that both pairs experienced the nicest nice bounce off the 61.8 fib level and would have been a perfect entry point, as we can see price action was swift to the upside. Also, I used the bars tool simulator, taking a snipped from this pair's history to predict future movement. If history repeats itself, could this move be the future of this pair as well as that of USD/TRY since they correlate? Note, price is still respecting the trendline as well with this idea. Now we know that although in Forex history tends to repeat itself, the market is also dynamic. Many factors can impact price action. Be sure to watch the direction of the Turkish Lira. This idea is for demonstration and educational purposes only. Trade at your own risk. This is not a signal. Price could very well not reach these highs.
Long
by mrsceleste
EUR/TRY 1H Chart: Downside potentialDownside risks have dominated the EUR/TRY currency pair since the beginning of September. This movement has been bounded in a descending channel. Currently, the exchange rate is testing the support level formed dy a combination of the weekly S2 and the monthly S1 near 5.9200. Given that the currency pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the general direction is expected to remain south. A potential downside target is the monthly S2 at the 5.5874 mark. It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the upper channel line located in the 5.8500/6.000 range.
by UnknownUnicorn890690
EURTRY - short with capital S [demo account trading]My demo account will probably expired by then, but let me chart this anyway. TRY is having a bad time. 6th day closed bellow 200 EMA on daily chart is not a good sign. I expect it to visit at least 1.618 Fib extension from ATH (that's where T1 is located), have some correction to upside, and continue towards 200 EMA on weekly chart (see image bellow). Next stop would be Fib extension at 2. And then who knows :) Weekly chart: Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Short
by rludvik
Planning a Long Euro vs Turkish LiraI wish I was into this stuff months ago instead of wasting time hoping BTC would recover. Some people would of made a fortune off this bull run. I think this correction is coming to an end. It is further along than vs the USA pair. Going to look to enter on the 15min timeframe will update when I see it. On a side-note the president of Turkey is starting to talk bad about Trump and the 'minor' Saudi issue. Mind your place Mr. President : ) Can be played with BTC and massive margin @ bit.ly ........ ........
Long
by amutt
EUR/TRY 1H Chart: Previous forecast at workThe EUR/TRY currency pair breached the falling wedge south. The rate has been trading south and reached the psychological level at 6.25. Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, the general direction is expected to remain south within the scope of the next week. It is likely that this decline is bounded in a descending channel. It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the 200-hour SMA, currently located at 6.4372.
by UnknownUnicorn890690
EUR/TRY 1H Chart: Falling wedge in sightThe European common currency has been appreciating against the Turkish Lira for five weeks. This movement has been bounded in a falling wedge. As apparent on the chart, the exchange rate is trading near the support cluster formed by the 55-, 100–. 200-hour SMAs and the Fibonacci 38.20% retracement in the 6.9843/7.0499 range. It is expected that the pair will breach given support and trade down to the lower wedge line located circa 6.70. However, if given support cluster holds, a breakout from the pattern could occur and the pair could jump towards the psychological level at 7.3500/7/4000.
by UnknownUnicorn890690
Turkish Central Bank Raises Interest Rates To 24%Hello my dear Turkish lira traders & everyone else who's interested in the ongoing Turkish Lira crisis. Big news today: -The Turkish central bank sharply raises interest rates to 24 percent, stating that there was still an upside risk to the inflation outlook from what it called a deterioration in pricing behavior, despite weaker domestic demand conditions. Economists had calculcated only with 22 percent -Leading to that decision, Erdogan today critized the central bank again for its mismanagement of the crisis, in the end still stating that the central bank is independent => That's why, even though mainstream media is writing stuff like: 'Central Bank defies Erdogan', I don't buy this. I don't think the central bank would've done this without 'green light' by Erdogan -On other news: Erdogan has appointed himself chairman of the country’s sovereign wealth fund and completely changed its board, naming Finance Minister Berat Albayrak as his deputy, the country’s Official Gazette said on Wednesday. -In a decision announced earlier on Thursday, he ruled that property sales and rental agreements must be made in lira, putting an end to such deals in foreign currencies. This leads to much room for an equilibrium between the ranges of 6.8 and 5.68. Have fun watching! ;) If you had some value from my analysis, please like & subscribe, to stay up to date on the Turkish lira crisis! About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
by Edgy_
1
Lira crisis: continues tightening between 5.8 & 7 Dollars +NewsHello my dear Turkish Lira traders & everyone else who is interested in the ongoing Turkish Lira crisis. As always, we look at the fundamental news first, and second at the technical analysis. Important fundamentals: -The Turkish government has ruled that exporters might convert 80% of their foreign exchange revenue into Lira within 180 days -The central bank has already announced tightening policy coming next week, and thus, has set the bar pretty high (president Erdogan is, at least in front of the camera, against interest rate hikes) -Potential war in Idlib/Syria: The Turkish society sees Syrian refugees already as a drain on the economy, connecting it to the demise of the Lira. Obviously another attack in Syria, which leeds to another inflush of refugees, could lead to further tentions. Germany's foreign minister is visiting Turkey right now in order for potential help in the attack scenario Have fun watching! ;) If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses + occiasionnally Lira analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
by Edgy_
17
EUR/TRY 1H Chart: Upside potential apparentThe Euro has been trading in an ascending channel against the Turkish Lira since the beginning of current week. As apparent on the chart, the Euro has reached the upper boundary of this pattern. In addition, technical indicators are in favour of bullish scenario. These two factors allow to think that a breakout is due in the nearest future. Traders should look out for the 0.00% Fiboncacci retracement at the 8.103 mark. In case, this mark is not breached, it is likely that the bearish sentiment takes over the pair.
by UnknownUnicorn890690
Lira on the way back to 7!Hello my dear Lira traders & interested people! ;) The lira sell-off continues guys. Fundamental news which affected the price: -Moodys downgraded 20 more Turkish banks -Berat Albayrak, finance minister, doesn't see Turkey in a crisis -The fall in Peso also intensified the selling, not just in Lira, but also in other emerging market currencies Have fun watching! ;) If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
by Edgy_
8