The last four weeks have been profitable for USD/TRY bulls, as the US Dollar has appreciated by 20% against the Turkish Lira. This upside momentum intensified mid-July when the 55-hour SMA provided enough support to guide the pair towards a new peak at 5.40. Given that this level coincides with the upper boundary of three ascending channels, it seems that the...
EURTRY intervention risk high. Spiral looks pretty
When we look at the chart with the emergency states we can see that the rally started after this. Maybe with end of it. This can rally to 50 week Moving Average.. Lets watch carefully this fundemental analys. Good Luck..
Hello traders, The TRY has dropped over -3,5% against some majors, over 1800 pips in less than 2 hours, since Turkey´s central bank has hold the interest rate level at 17,75% unexpectedly. After the huge spike of the USDTRY, now it is pulling back after being unable to break the 4,98 level for the third time. Even though the USD is experiencing a huge spike...
TRYJPY is on a 1D Channel Down and due to its multi week consolidation (RSI = 47.127, ADX = 17.384, Highs/Lows = 0000) it is near pricing its Lower High. We are short, TP = 21.564.
The TRY/JPY exchange rate has been consolidating in the 22.6140/24.6060 range since the beginning of June. Its bottom boundary was tested last week. The Lira has since appreciated slightly and moved past the monthly S1. This up-move has allowed the rate to reach a medium-term channel. This pattern has remained intact, reinforced by the 55-, 100– and 200-period...
Intraday or swing trade! 1to8 risk reward! good luck!
15 min short profit. very nice setup.
Bearish divergence on the RSI and last day closed with a bearish candle, heavy pullback imminent.
This is a high risk, pure price action trade that I am taking. Purple boxes are potential buyback and long zones.
GBPTRY is possibly on a recurring pattern sequence as seen on the chart, on the broader spectrum of a 1W, 1M Channel Up (RSI > 65.523 on both, even overbought on 1M). Our strategy is to buy every dip within the 4H Rectangle (ADX = 18.434, ATR = 0.0717) in anticipation of the next Channel Up. TP = 6.6467.
Just update to a previous posting for USDTRY Elliott Wave count.