First Target : 6.83 Second Target : 7.07 Third Target : 7.87
-Monday=Markets reacted to Fed governor Jerome Powell's speech on Friday which knocked the USD lower. SPX makes a new high. While political turmoil in the Australian govt weaken the AUD but the recovered towards the end of the trading week -Emerging markets currencies were pretty weak last week with majority of them plus one percent -WSJ reports issues on...
A reversal pattern has appeared on the weekly chart. Low volume in corrective waves was the first sign of the higher prices are coming. A weekly close above the 7 will not let the price below it easily. The price can retest 7 after hitting the 8. But ultimately, it will stall around 7.8 or above.
New trend formed. Recent manipulations won't change the target. 15 years of economic deficit releases the energy. Although short term actions suppressed the trend, Turkey hasn't changed it's economy policy. The results will be seen on the chart soon. The reason for plunge in TRY isn't Bruson or any other reason but the wrong economic policies. Sanctions and...
I truly hope for the Turkish people that the turkish lira will not go over that Fibonacci resistance, or their bank system will truly risk to have a meltdown
USDTRY formed an new and higly volatile strong up channel! Recent surge was bounced back from 38.20 % fibbonacci level. Long from there with a risk reward ratio 25! The stop loss is just below 1%. Short at old highs until seeing a reversal signal probably from 20 EMA and around 50% fibonacci level. This can happen soon in August next week or so.
This is not a trading advice.! Just my opinion about turkish lira in couple of months, maybe more close.
The last four weeks have been profitable for USD/TRY bulls, as the US Dollar has appreciated by 20% against the Turkish Lira. This upside momentum intensified mid-July when the 55-hour SMA provided enough support to guide the pair towards a new peak at 5.40. Given that this level coincides with the upper boundary of three ascending channels, it seems that the...
Intraday or swing trade! 1to8 risk reward! good luck!
15 min short profit. very nice setup.