The USDTRY pair has been rising steadily since the December 2021 drop. The RSI on the 1W time-frame has formed a pattern that since 2013 at least, paved the way to very aggressive pumps. Technically the next wave is about to start and shouldn't retrace before it hits the RSI's Higher Highs trend-line. Based on the pair's Higher Highs trend-line, the next top can...
Although the chart has too many bullish daily candles, the upward angle and trend confidence shows me the trend is your friend. So I expect a new record high and a breakout of December's high of 18.25 . The target is 20 in the next two months . On the macro side, the imbalances remain. Turkey has the highest negative real interest rate (minus 64%) * among...
Tendency upward. Now will try to break the 18.25 is the highest of the this pair and if break strong ressistance then will start a newstrong bullish trend. 20 21 are on desk in long term. *Please share your opinion on it, write in the comments. Dont forget some cheers bravo. " Teşekkürler.
I am aware of the current geopolitical problems in the world and especially in Turkey. Also the economy of Turkey has had a very hard time. In 2023 there seem to be re-elections. Maybe if they get rid of Erdogan there can be a future. Also 2023 is like the holy grail year for the Turks because they can "pump the oil out of the ground", because of a so called...
USD/TRY broke the resistance of 17.97 and the area above it(green) which was previous resistance for a while. After the rate cut of the Turkish Central Bank, Turkish Lira lost value and USD/TRY index broke the psychological resistance of 18.00 I think we will see more choppy bullish price action because the RSI is overbough and MACD is decreasing in the 4H chart.
Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (17.9722). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a...
Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (17.9722). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a...
USD/TRY may end the uptrend for a period of time in a bear market correction. Either the bear market is in the going or the uptrend may still needs to make more uptick before the bear market resume. The wave count and chart pattern may give us a clue for the direction of the trend. Only sustain trading above 18 Lira to one US Dollar may destroy the bear market...
Economy keeps crashing in the hands of "strong man" Erdogan, who has fired every Head of Turkish Central Bank who tried to stop him fulfill his own Turkish Dream of hyperinflation in which business is no longer possible as the cost of imports and commodities rises daily. Erdogan's genius policy in a world where growth and investment is stalling is to keep slashing...
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...
In long-term view, the pair is heavily overbought and inflation is very high It does not mean the market condition can continuously drive it upwards. TP areas are signed white flags. And supports are black flags. *Please share your opinion on it, write in the comments. Dont forget some cheers bravo. " Teşekkürler.
USDTRY tendency upward Entry: above 17.28 TP: 17.40 & 17.60 & 18.20 sl.: 17.02 risk 2.0%
The USD/TRY pair extended its dramatic turnaround from a record high touched earlier this week and continued losing ground through the mid-European session on Thursday. This marked the fourth successive day of a negative move and dragged spot prices to a six-week low, around the 10.20 region in the last hour. The pair, however, found some support at lower levels...
Economists look for further sharp Turkish lira depreciation. They forecast the USD/TRY above the 20.00 level in the second quarter of the year. 𝐓𝐡𝐞 𝐧𝐢𝐠𝐡𝐭𝐦𝐚𝐫𝐞 𝐚𝐟𝐭𝐞𝐫 𝐂𝐡𝐫𝐢𝐬𝐭𝐦𝐚𝐬: “We think that USD/TRY will rise to 16.25 by end-Q1 and breach well over 20 in Q2. However, this is when we expect the CBRT to start tightening, which should help bring the pair down to...
Here we go again! I see more downside for the Lira, tough times indeed. Notice the breakout of a wedge pattern. That is my thesis. Good luck out there guys. 1% Risk 4:1 RR
As we can see in the chart, the probabilities are listed. Weekly close area and on the other hand weakness in the process
As for now, Turkish Lira is still ABOVE 2021´s Close (Black Line) and Came back to Restest it. Hence the Bullish Bias Remains. If price starts going up it will end at yearly R3. If price breaks below yearly S1 (what I find unlikely) the yearly downtrend will be to S3. For Educational Purposes Only.