The Turkish Lira has been depreciating against the US Dollar in an ascending channel since the middle of August. Currently, the rate is being supported by the 55– and 100-hour SMAs on the 1H time-frame. Given that technical indicators flash bullish signals both in the short and the long terms, it is expected that the pair could go to the upper boundary of given...
First Target : 6.83 Second Target : 7.07 Third Target : 7.87
Pressure still to the topside for USDTRY. As USD gets bid vs. Try, look for risk-off in G10 FX (Chf, Jpy buying).
-Monday=Markets reacted to Fed governor Jerome Powell's speech on Friday which knocked the USD lower. SPX makes a new high. While political turmoil in the Australian govt weaken the AUD but the recovered towards the end of the trading week -Emerging markets currencies were pretty weak last week with majority of them plus one percent -WSJ reports issues on...
I am expecting drop between 5.20 - 5.40 due to Turkish Government's precautions against USD. 5.20 - 5.40 is safe zone to buy. Also when technically analysed, it can be seen that there is a rising wedge, which notifies bearish trend. Not a trading advice.
6.68 is a sturdy resistance but the trend is up and pressure is on. Do not sell this.
The 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...
A reversal pattern has appeared on the weekly chart. Low volume in corrective waves was the first sign of the higher prices are coming. A weekly close above the 7 will not let the price below it easily. The price can retest 7 after hitting the 8. But ultimately, it will stall around 7.8 or above.
MACD crossed and very low volume phase started. No hard selling or any action that changes the price. While the weekly chart looks like a bearish flag, the daily chart is telling me something will happen soon. Watch for 20 moving average. It isn't going to be taken down easily. In the first higher high green daily candle, it is a but for surge with a stop loss...
As we see from the chart its consolidating right now. Volume is too low now because Turkish markets are closed. When volume will go up price will also jump to 0.62 Fib Level
A lot of political activity happening on this pair. Technicals are quite strong, further bullish outlook if it breaks 7.
Hello my dear Lira traders! :) Fundamentals: The language between the US & Turkey is getting harsher. National security advisor John Bolton came out and said that Turkey is making a huge mistake by not releasing pastor Brunson. Ibrahim Kalin, spokesperson for president Erdogan, is now speaking of 'economic warfare' against a NATO ally. Technical Analysis: We're...
Hello my dear USD/TRY traders, hope you're doing fine guys! ;) In today's video, we're gonna be looking at the fundamentals, and will analyse the pair in the end. Important was: -Trump is not backing -Also the FED is concerned about the rapid collapse of the Lira -Sigmar Gabrial (former German foreign minister) & Andrea Nahles (current chief of the German Social...
Bullish pennant will probably end up in another leg higher.