TURKISH LIRA TRY (TL) CONTINUES TO RISE AGAINST USD DOLLARS
Symmetrical triangle usually forms during a trend as a continuation pattern. so there is a higher chance of breaking out to the DOWNSIDE
Hi, First of all, I am not an elliott expert. So, you should not open any positions with this analysis. If my analysis true, I am seeing an ending diagonal at 5.th wave. Ending diagonals can be seen at 5th. wave of bigger degree motive wave, or C wave of bigger degree of correction wave. So as you can see in the chart, I am expecting a rise before a big...
First Target : 6.83 Second Target : 7.07 Third Target : 7.87
MACD crossed and very low volume phase started. No hard selling or any action that changes the price. While the weekly chart looks like a bearish flag, the daily chart is telling me something will happen soon. Watch for 20 moving average. It isn't going to be taken down easily. In the first higher high green daily candle, it is a but for surge with a stop loss...
Wave II in the works... unless Turkish Bank shuts it down.
Chart the S&R wait for the breakdown and fractals and MTF ema tux confirmation
EURTRY intervention risk high. Spiral looks pretty
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
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
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
Breaking through the important pivot level of R2, the USDTRY continues to rally of the back of expected interest rate hikes. President Erdogan's monetary policy comments had little dampening effect with the USDTRY skipping past the key 4.38 level. Will Turkey's Central Bank be able to manage the current levels of inflation in the short term? Trading Forex / CFDs...