The Greenback has been depreciating against the Turkish Lira in a short-term channel down. The last two waves up, however, failed to form a movement upwards, resulting in a consolidation period. The rate tested the upper channel boundary mid-session and has since moved lower. However, given the direction of this wave, it may still re-test the given line in...
Parallel to the dollar index, the bullish USDTRY will continue to rise to 3.57.
The Turkish referendum appears to have favored Erdogan. While the political implications of this are still to be seen, this appears to be short term bullish for the Turkish Lira. I would go short the USD/TRY with a target of 3.6000 and a stop loss of 3.7500
Short USDTRY after election if Erdogan wins
After a longterm Anelising of fibs / HVF/ waves and other instruments, a came to this conclusion . It can take longer some longer , but not much .
Since late January, the Central Bank of the Republic of Turkey has produced consistent efforts to stabilize the currency. This has produced tangible results with a upward correction although persistent political tensions. Erdogan's referendum victory is likely to be the most market-friendly option. A "No" scenario may lead to early elections and a period of...
giris 3.6050 ilk hedef 3.6692 ikinci hedef 3.7126
I'm back with the EURTRY to do a add-to-position. If you have followed me on the EURTRY, it's an idea to consider an increase of position. Just a moment ago, disappointing quarterly jobless average (dec) figures came out of Turkey. With the EU going somewhat stronger, I trust this one over the next week to continue upwards. Be aware that EU is in a strange place...
USDTRY reverse shoulder-head-shoulder formation? If market price break the last high (3.7450) also formation will work and the new target will be the main high levels (3.94) again. Good Luck!
This is, without doubt a long position for the long term. Diving into macro economy of TRY, it's not looking good, compared to EU. Currently I will wait and see if it's going to take a breather, before I jump in for the long run. Worth keeping an eye on.
Safe and Successful Trading!
Since October this pair has entered into an aggressive uptrend! Price is moving in a bat formation, heading towards our PRZ. As per natural behaviour, price may enter slight consolidation at the PRZ before continuing with the original trend; I will be looking for an entry asap once the C-D wave is complete. 1st and 2nd Take Profit levels at 38.2% and 61.8%...
This week i think we can short USDTRY from 3.72 and target 3.61 levels.