USDTRY has a falling wedge formation on the weekly chart. If this week closes above 5.31 falling wedge breakout will be confirmed. Stoch RSI is extremely oversold on the weekly chart. Tom Demark count gave a red 9 and counted extra 3 bars. In upcoming weeks I expect a bullish rally to start. Here is my long term trading idea: Long at: 5.26 - 5.31 Take profit...
Just looking at some not so normal pairs and spotted this. Great long term play here, can play all the way down. Stop is clear to see, goo RR. Can be played with margin @ bit.ly
Blue labels indicate that the correction is over within WXYXZ triple three corrective structure and we can retest the former top above TRY 7. White labels imply longer consolidation within WXY double three pattern with retesting of former low before the final devaluation. Both maps show that lira could weaken to 6+ level first.
TRY TURKISH LIRA UPDATE - 4,94 ON 28 DECEMBER
USDTRY counted red 9 according to Tom Demark count. After red 9 we expect a trend reversal. Weekly Stoch RSI is at historically low levels. Bollinger Bands are very narrow at the daily chart. I expect a bullish breakout within this month. Major resistance areas are: 5.33 (daily MA20), 5.43 (fib 0.5) and 5.72 (weekly MA20). Major support is at: 5.05 (fib...
The Turkish Lira has been driven by a strong upside momentum against the Japanese Yen since the middle of August, and thus sending the currency pair to the weekly R2 at the 21.94 mark. As apparent on the chart, the pair is testing the upper boundary of the medium-term ascending channel near 22.10. Given that the exchange rate is being supported by the 55– and...
Downside 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...
TRY/JPY is currently weak and could potentially break it's bullish support and fall further down. Place your SL above the high of the current consolidation zone. To play it safe, one can simply place a Stop Sell order right below the 50 EMA on the 6H chart or simply the current support line to catch the move as it breaks its current support. I would personally...
Seriously... Just buy it. First target 5.8
5.3 - 5.1 is the target. Go long with 10x leverage. Take profit after a few years Get rich easy. Not trading advice.
Follow the trends. It pays off when trading. This pair correlates great with USDTRY, which has been a Gem for me & my network. Do you agree with my analysis? Comment Below!!
AUDTRY's strong trend support line above is broken. currently in a consolidation mode looking for a breakout soon.
Double top and long candlestick. This will continue it's bearish trend
The US Dollar has been depreciating against the Turkish Lira since the end of August. This movement has been bounded in a falling wedge. Technical indicators for the 1W time frame suggest that a breakout north occurs in the nearest future and the currency pair surges towards the Fibonacci 23.60% retracement at 5.7597. However, this advance might not be...