New trend formed. Recent manipulations won't change the target. 15 years of economic deficit releases the energy. Although short term actions suppressed the trend, Turkey hasn't changed it's economy policy. The results will be seen on the chart soon. The reason for plunge in TRY isn't Bruson or any other reason but the wrong economic policies. Sanctions and...
I truly hope for the Turkish people that the turkish lira will not go over that Fibonacci resistance, or their bank system will truly risk to have a meltdown
USDTRY formed an new and higly volatile strong up channel! Recent surge was bounced back from 38.20 % fibbonacci level. Long from there with a risk reward ratio 25! The stop loss is just below 1%. Short at old highs until seeing a reversal signal probably from 20 EMA and around 50% fibonacci level. This can happen soon in August next week or so.
going to take a punt here - Happy to lose a little here ;) - profit was good long, will risk 3% of yield at price discovery spec - Volume Profile favours `gravity
$USDTRY at major fib extension 6.618. Anything is possible
TRY continues falling aganist USD due to Turkey’s financial meltdown. www.bloomberg.com
Wave II in the works... unless Turkish Bank shuts it down.
Midterm forecast: 5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 5.0000 is broken. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to...
Midterm forecast: 5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 5.0000 is broken. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to...
This is really contagious. After the news about Turkish banks’ swap, the panic spilled over to other EM pairs. USDZAR traded up to 15.70. USDMXN rose to 19.35. This panic has caught attention of some Asian central banks.
Chart the S&R wait for the breakdown and fractals and MTF ema tux confirmation
This is not a trading advice.! Just my opinion about turkish lira in couple of months, maybe more close.
Erdogan speaking publicly for the first time since the TRY rout started (years ago). His comments are not being appreciated by the markets. Quite a closed mind it seems, and an aggressive posture against the international community. This will only exacerbate capital flight from Turkey.
Nothing needs to be said guys, it is just sad watching this. 6% loss just today.
The 10-year Turkish government bond yield rose 24 basis points to 19.91%, a record high. The ECB is starting to worry about European bank exposure to Turkey, which is on the brink of hyperinflation due to Erdogan's dictatorship. Capital is fleeing the country and the market is showing a flight to quality today with aggressive USD buying and Jpy buying.
Hello guys, hope you're doing fantastic! ;) In this special analysis, we look at the fundamentals of what is going on with the Lira, why it's losing so rapidly in value, and also the big picture on the weekly chart. 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...