Possible BUY / SELL positions for USD/TRY. This is not a trade advice, do trade by your own will and check chart regularly.
Midterm Forecast: The current trend is uptrend and the forecast is the continuation of uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 51. Trading suggestion:...
Midterm Forecast: The current trend is uptrend and the forecast is the continuation of uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 51. Trading suggestion:...
The massive surge of the US Dollar which ended on May 23 was followed by two weeks of decline. As a result, the pair approached the upper boundary of the breached medium-term channel prior to reversing back to the upside. USD/TRY is gradually approaching its many-year high of 4.90. It is expected that the Greenback continues to edge higher during the following...
Technicals nicely lining up . 4.70-4.90 selling pressure expected, with aim down towards 4.45, potentially down to 4.20.
I see some bullish divergence on 4h chart for macd and rsi + flag formation. Buy-in level: 4.35-4.46 Profit Targets: 4.57 4.72 4.92 Stop loss: 4.28 Have a nice weekend, Berk
The US Dollar spiked significantly against the Turkish Lira late in May as a result of which it surged up to a many-year high of 4.90. The rate has since edged lower and is now trading in a descending triangle—the upper boundary of this pattern is a downward-sloping trend-line drawn from the aforementioned spike, while support is provided by the 4.45 level. This...
It looks like FX:USDTRY is more likely to go up
Pros REER based TRY undervaluation: 47% National Bank stepped in to protect TRY Key to this position: limited market volatility and risk-on sentiment It is relatively expensive to short the TRY Cons Long-term fundamentals gloomy for Turkey
Continue to rise sharply or fall again?
The common European currency has been strengthening against the Turkish Lira for a long period of time. This upside movement gained strength considerably early in May which resulted in a 18.40% surge during these three weeks. After reaching the 5.73 mark earlier this week, the pair plunged 5% in one hour on May 23 and thus fell down to the upper boundary of the...
DOLLAR/LIRA Midterm forecast: The current trend is uptrend and the forecast is continuation of the uptrend. Technical analysis: While the RSI resistance #1 at 83 is not broken, the probability of price increase would be too low. While the RSI uptrend #2 is not broken, bullish wave in price would continue. Price is above WEMA21, if the price drops more, this...
DOLLAR/LIRA Midterm forecast: The current trend is uptrend and the forecast is continuation of the uptrend. Technical analysis: While the RSI resistance #1 at 83 is not broken, the probability of price increase would be too low. While the RSI uptrend #2 is not broken, bullish wave in price would continue. Price is above WEMA21, if the price drops more, this...
The USD/TRY pair has been mostly affected by the fundamentally economical, damaging reforms of the Turkish government. Moreover, recent events in the Turkish bond market have massively increased volatility. However, rather incredibly the currency rates sudden decline began in consistency with the long term ascending channel pattern, which represents the surge of...
GBPTRY testing multiple FIb levels
The movement of TRY/JPY has been bounded in an descending channel during the past three weeks. This pattern is a part of a medium-term channel which has prevailed since early 2018. Given that the pair reversed from the medium-term channel today, traders are expected to see a test of the 25.45 area which is reinforced by the 100– and 200-hour SMAs and the weekly...