EURO TOO STRONG FOR TURKEY If you'd ask me which currency I'd put my money on, without a doubt it'll be the Euro. Despite all Brexit drama, the Euro seems to keep having the upper hand on almost every pair that includes it. Since June 2016. MPs have failed to agree on a withdrawal agreement which means Britain did not exit the EU on March 2019, looks like the Euro actually gained more value and on the other hand Sterling Pound seems to really struggle to over power most currencies fundamentally.
Taking a glance on the EURTRY chart analysis, it seems like it corresponds with the fundamental analysis. Using the technical analysis, I've used a Gartley Pattern to confirm our target price at 6.78315 which is on the "C" on the harmonic pattern, the market turned exactly at our 61.8% level and to be safe the Risk price would be roughly at 6.40448. For additional confirmation I've inserted a stochastic which it haven't reached our overbought zone.
EURTRY trade ideas
World Cup of Leaders - Road to Disaster or FreedomThere are similarities with Venezuela.
It's look like Trump and Israel doesn't wan't to loose power in middle east.
They are some good projects like:
*new silk road to istanbul
*drilling for oil and gas near Cyprus in the near future
Battle cards tell you truth.
Turkey+Russia+China+Iran have now more power and control in middle east.
Trump + Israel have more finance and weapons.
2019/2020 will tell us what will happen next.
It's Endgame and there is no more time left to try again.
2020-2025 are critical years for world freedom.
Gold, Silver, Crypto will skyrocket this year.
EURTRY is trying to work it's way downLatest price action patterns indicates thata EURTRY wants to go lower.
Last breakout attempt did not draw attention and failed.
Lower trendline is broken today. 6.66 and 6.60s are possible if political events do not intervene
Thank you for your likes and comments.
Good luck
Disaster cooking in Turkey=> For those who believe in the bearish Turkey story, we are in the early stages of a 5th wave which we mentioned in our previous ideas... it can be seen clearly here and shows how the floodgates for the highs are wide open.
From a technical perspective the 5th wave target, the first major target is 7.85 (assuming wave 5 is a 1.00 ratio in length of wave 1).
Given the nature of this rally so far there is a very large chance this can extend well beyond the initial targets as far as the 2.168 extension above the highs.
It is also worth noting for those following EW that the 5th wave usually marks new highs... confidence in this view will increase above the 161.8% so for those wanting a less aggressive entry you can sit tight and watch closely and good luck to those wanting to pull the trigger early for the next few Quarters in 2019.
This is going to be a monstrous move and worth tracking for those interested in watching the EM collapse continue.