Turkish
USDTRY 4H (uptrend)US dollar vs Turkish-Lira , again and again upward.
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Upward
Above 14.11
Tp.: 14.62 & 14.95 & 15.45
Sl.: 13.75
Turkish Lira Chronic Disease?As you can see in the previous price actions after the interference of the Turkish Lira it seems that the Currency has gotten a Chronic Disease now.
The fast bounce back conclude that there is globally no trust within the Turkish Economic Politics.
As the Minister of Treasury has already been replaced within 3 years and the independence of the Turkish Central Bank regarding President Recep Tayyip Erdogan's politics are being questioned.
It seems that the market is craving for a change of governemnt, but as we know from recents words of the President an early election before 2023 is a wish that will not come through.
Simple conclusion: Uptrend Cable will continue till 2023 at least as the Turkish Government is not likely to change their Economic politics.
TURKISH LIRA GOES PARABOLIC LIKE BITCOINThe chart pretty much explains itself. If the Turkish Central Bank can't interfere at the right time and place, we'll be seeing the Turkish Lira losing even more value and USD becoming equal to 8.70 Turkish Liras in December. Then we might see a retraction just like Bitcoin as the parabolic growth becomes unsustainable.
Turkish liraWe are observing a long-term trend of the depreciation of the Turkish currency. According to the Trend-Based Fib Extension, the 161.8% level is a good resistance and a target for the bulls. At the moment, USDTRY is pressing its ATH and consolidating under it.
I expect an impulse breakout and a continuation of the uptrend.
Best regards EXCAVO
Cycles of the Turkish EconomyIn the traditional Turkish calendar, there are only 2 zodiac animals. Next year seems to be bull.
USDTRY 4H ( uptrend) above the channel The direction of USDTRY it will try to stable above the resistance level to continue their upward trend .
Upward above 9.47
Target.: 9.54 & 9.61 & 9.70
Sl.:
USD/TRY PARALEL KANAL TEPE TESTİDXY tepki alımları alsada genel dxy trendi aşağı yönlü. Dolar tl paralel kenar üst sınırlarını test edicek ve kritik bölgede bulunmakta eğer kanal üst sınırlarından tepki yemesi halinde 1w/1mo. sfp oluşturabilir ve kısa-orta dönem düşüş trendi başlatabilir eğer kanalı yukarı yönlü kırması halinde bir başka s/r flip gerçekleşecek ve parabolik gitme şansı var. kanalın içinde kalıp kısa orta vadede kanal alt çizgisine dönüş yapması daha olası.
USDTRY 4H (Downward)Usd turkish-lira after getting the record price and can make some stability at here so i think will make a retest to down and then will try to continue their upward.
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Downtrend
Entry: under 8.85
Tp.: 8.79 & 8.74 & 8.65
Sl.: 8.93
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My previous idea about USDTRY : in the below.
USDTRY TECHNICAL ANALYSIS 23092021How to Calculate Andrews' Pitchfork
Andrews' Pitchfork can be easily applied to price charts without a specialized drawing tool.
Point 1: starting point of uptrend or downtrend.
Points 2 and 3: reaction high and reaction low in the uptrend or downtrend.
Point 1 = starting point of median trend line.
Distance between Points 2 and 3 = channel width.
Draw and extend a trend line from Point 1 through the midpoint of Points 2 and 3.
Draw and extend trend lines from Points 2 and 3 parallel with the median trend line.
Change Pitchfork slope by changing Point 1.
from investopedia
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EUR/TRY: Next Surge Ahead! 🔍🔍🔍The Euro has lost some value against the Turkish Lira over the past months but has reached the goal for its wave A in green. Now, it is time for another push against the Lira, before longer downward movements set in.
Follow us for more!
Usdtry 4h (buy above 8.46)USDTRY the price faild to stable under 8.46 and now will get the 8.61
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Tendency: upward
Entry: above 8.46
Tp.: 8.61
Sl.: stable under 8.46
USDTRY ASCENDING TRIANGLEHello Traders,
Today, with the outperformed growth data, Turkish Lira gained around 1% made a successful retest to the breakout zone of formed ascending triangle.
I expect that the currency will gain momentum to finalize the movement through the target of the continuation pattern.
My target area for the currency is $8.95-$9.00.
8.95 is a nice level to take your profits and watch closely to continue, close or may be add new positions considering the facts.
Thank you and stay tuned for more strategies!
Please leave a like and comment what you think.
Wish you have a well start of the week and trade safely
USDTRYIt broke 7.26 in 92 days and increased by 18%. Until 8.57, it was the same price again after 203 days. If it breaks this place as well, it is not surprising to see double digits.
