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Euro / Turkish Lira

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EURTRY trade ideas

EUR/TRY: Underrated Paradise 🌅Turkey is mostly known for its long history, culture, amazing cuisine and for stunning landscapes, but we have found out that it is also a great place for investments! As we have indicated in the chart, there is a trading zone between 8.630697₺ - 8.145568₺, in which we have entered this market on the long position. We expect the course to further increase sharply. Since we have only recently left the trading zone, there is still time to hop on the moving train! Check out our other analyses, too!
Long
by MarketIntel
EUR/TRY Back To SupportHuge sell off on the EUR this past week, I was looking at this as a chance to long back up to resistance as it is oversold but looking at the bigger picture I think it is best to hold off at the moment. The situation is very bearish and there will certainly be swing trading opportunities here but the trend is going down and longing anything here seems like a big risk not worth taking. Looking at monthly and weekly timeframes you see this is retracing back to the previous peak from August 2018, if it reaches this point that would be the perfect time to be longing this. Although it may not go as far as this, we are now at 0.618 Fibonacci and as this is currently oversold it could reject this area and level off before rising again back towards the all time high. With this in mind it makes sense to hold off a trade on this pair and some other EUR pairs until the situation unfolds. Once it does it could open up some very profitable opportunities.
by olly48
EUR/TRY: time to buy?Hello traders, given that the current situation is very, very similar to a technical scenario back in 2018, I think we should now be shifting to a long bias, though confirmation is crucial in the next few days. After the descending triangle was finally broken to the downside, a flush of selling came into being but it has since fizzled out and the MSCI iShares Turkey ETF buying has also run out of steam (this is an inverse mirror to EUR/TRY price action). We must now look to buy, perhaps. I have gone long on my demo, with 9.0 as a potential target and a stop around 8.6. Good luck to us all... Francesco
Long
by Forexistential
3
EUR/TRY breakout still to come... Price compression is unreal!Update from my last video at the start of the week... This week brought no resolution to this stall/congestion, and we will have to wait and see what February brings. The central bank of Turkey has an MPC meeting on the 18th Feb. ( www.tcmb.gov.tr ) so if nothing moves until then perhaps it will do so afterwards, depending on what they say. For now it looks like the rate hikes will stop and even the new governor may not push this with Erdogan in power. But there is speculation, and then there is trading on what is in front of us... And all I can see is NEUTRAL because the breakout could go either way, truly it is like throwing a coin. @arifarslan1994 this is my response to your question, by the way :) See you in my next video or article. Have a good weekend Francesco
by Forexistential
2
Turkish Lira massive descending triangle ready for a break: LONGThe Turkish Lira (TRY) has been an embattled currency for decades and in its Euro pair (EUR/TRY) it had some relief but it looks like the halt to continued Lira sell-off may be soon over as EUR/TRY looks ready to burst out of its multi-week descending triangle. In this video I look at one recent example of a similar triangle formation and its outcome, comparing it to the current one and trying to gauge what trading potential there may be now relative to size, I also look at ATR for confirmation of volatility. Thanks for watching! Francesco (FreeFX)
Long
by Forexistential
1