Note USDTRY's 92 percent negative correlation with Crude Oil on weekly. Crude oil needs to to trend up for USDTRY to fall. Long terms trends seem to be effected by Crude Oil, as is the case with Mexican Peso and Thai Bath with which heavily Lira correlates (90 and 88 percent). It also has 97 positive correlation with the Natural Gas (XNGUSD) on 4 hrs. Price...
In my previous analysis, I said that the dollar will rise above 7 TRY and we are on the target now. We will see higher prices, my next target is 7.60 levels for the long term.
The struggle for democracy is being carried out and as long as Erdogan remains at the helm there is only one direction for TRY. Autocrats are typically sticky in nature and difficult to remove, the attack should first be aimed at the currency which will be the base of the capitulation. Attacking the 7.8 will break local bank and looks imminent as markets receive...
that's a big Picture from my last Chart. USD CAN DROP AFTER TRIPLE TOP. Would buy real estate there before Prices will go up like 30-50% in coming years.
The price is near the Support/Resistance Zone. We can open Buy if daily candle will close above. Potential profit will be in 3...5 times bigger than risk. Push like if you think this is a useful idea! Before to trade my ideas make your own analyze. Write your comments and questions here! Thanks for your support!
TRYJPY - SELL/SHORT TP & STOP LOSS AT THE CHART !
Our risk / reward ratio is 0.28 in the first field and 0.09 in the second field. There was a close above 5.84. Long positions can be tried in small lots. However, losses can be a bit high since the bar cannot be sure without closing, so stoploss should be placed directly at 5.81 or 5.84. Our sales level for the first area is 6.095. If the first area breaks down,...
I drew the main channel on KST. Must watch carefully. The upward reaction would be much more severe, but the downward reaction should be evaluated. If I see anything about it, I'm gonna give url to the new idea under this area.
- Above 200ma - Break of symmetrical triangle FX:USDTRY - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
There is a huge potential for the currency usdtry to test August 2018 levels.
Because of Turkey Political Risks and Central Bank Movements TRY value is decreasing against USD. Technically 5.83 is the critical level and it should be followed. Short can be tried in there with close stop. If this level breaks long can be open.
We can take a long buy trade from recent levels : 5.5730 - 5.6200 TP1 : 5.7700 TP2 : 5.9630 TP3 : 6.1830 Stop Loss : 5.4000 This is not an investment recommendation or any call to buy or sell It is just an analysis based on a study of the history of price action Behavior , that may not be a necessarily reason for the success of the structure or repetition....