EURTRY H1 chart formed Head and shoulder pattern and Williams Alligator give us a short signal
Today’s analysis for the USD/TRY starts from a look at the daily chart to get an idea of what the medium-term outlook is like. From the daily chart shown below, a key price level which is now acting as a medium-term resistance is identified. This is the site at which price found support three times in December 2018 (1, 2 and 3), as well as once in January 2019...
Looks like a solid double bottom pattern in the making. On the right we can see a triangle as well. So i am going to wait for a downwards breakout and if we see something like the blue line, i will try a long around the yellow circle, so after the breakout of that channel. Previous analysis:
Sell USDTRY on continued US govt shutdown and poor global growth data lowering the chance of US central bank raising interest rates further. Rates markets including cash and derivatives are pricing in at most 21% chance of a rate hike from summer 2019 onwards. Why does this matter? Emerging markets fund their budgets in USD and as US rates increase EM funding...
USD/TRY harmonic bullish bat + bullish divergence on 1h chart. Targets are shown.
this is not a trade call. this is for reference only
USD/TRY potential harmonic bearish butterfly pattern. XU100 down USD up!
Expected trend: Bearish Target: 4.3000 Risk: 5.7800 Technical reasons: The USDTRY pair started a bullish correction after placing 5.13 low, it stopped at 23.6% Fibonacci correction level, to rebound downwards again. The last move inside an ascending channel is considered as a bearish flag that supports the chances of continuing the bearish trend on the short...
And every other emerging market Any retracement from now. Long it, make money
The Descending Triangle This pattern indicates that sellers are more aggressive than buyers, and is usually resolved on the downside. The measuring technique is that the analyst must measure the height of the pattern at the base to the left and then project that distance down from the breakdown point. The Volume Pattern The volume pattern in descending triangles...
The pair has been trading on a strong 1W downtrend (Highs/Lows = -0.4121, B/BP = -0.5351) that recently appears to be slowing down. This may be an indication of a support on the 1W level (6.2070 - 6.5610). However a sequence of repetitive Triangle patterns illustrates that at least a -3.54% decline is expected to follow the completion of the most recent Triangle....
The pair broke the 1D Channel Down (RSI = 52.138, Highs/Lows = 0.0416) and entered neutral condition for the first time since early September. If the 5.54000 Resistance is crossed then it reenters into bullish territory and should look for 5.87030 at least. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **...
Looks like a very decent and stable bull flag here, so it is worth the risk. I am going to get in with half a size here and increase it to a normal size if we get a break out.