USDTRY- 25Feb2022USDTRY- 25Feb2022
On the daily, price faced bearish pressure from resistance at 14.2300.
On the H4, price broke above the previous triangle target at around 14.30 before facing bearish pressure to close down at around 14.00. If the political situation intensifies, we could expect the price to rebound and retest 14.6000 resistance.
This is for personal record purposes only, not financial advise or solicitation of trade.
TRYUSD trade ideas
USDTRY-NEUTRAL upside biasThe sell 14.60 worked out so far, and I have liquidated the position just now 13.9800. This is the support level for now, and one may expect higher levels again with weakness in RUB etc. and the ongoing conflict in Ukraine.
Strategy SELL 14.50-14.75 and higher 15.50-16.00 for medium-term gain back towards 10.50-9.00.
USDTRY-SELL strategyWe await until we reach 14.50-14.75 area to start SELL again adding to our medium-term short.
The break above 13.98 will attract higher levels, and the USDRUB weakness will drag the pair higher as well. Strategy is SELL small increments 14.50-14.75 and next 15.50-15.75 and finally 16.50-16.75 if reached.
the monthly chart strongly suggest we will correct back to 10.50 - 9.00.
ANALYSIS ON USDTRY(SWING LONG)The pair looks to have closed bullish on W1 and also looking at the last leg of the channel.We will be looking to swing long after potential break of the area of value which is most likely to do so after an overall weekly bullish close and potentially towards the 14.000 area.
USDTRY- 24Feb2022USDTRY- 24Feb2022
On the H4, price is grinding higher after closing above pivot level at 13.62 yesterday. This pivot will become key resistance-turned-support if the price drops back in the future. If USDTRY bounce higher, it will face resistance at 14.03.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY-NEUTRAL with upside biasNeedless to say, the movement up has been micro movement. We still have some resistance to overcome for further noteworthy upside. Th feeling is we may see going beyond 13.9200 for move to 14.50-14.75 area.
However, I am a preferred medium-term seller, whereby we still have extreme overbought conditions of the monthly chart.
No change in view, to sell into higher levels, 14.50-15.50-16.00-16.50 as selected areas, but keep the leverage very low to ensure you can improve the average. Take profit 10.50 - 9.00.
The Big Short - USDTRY While all eyes seem to be on the widely forecast big short in the stock markets, I think the real big short is coming in the USDTRY- as the Lira mounts its spectacular recovery and the USD weakens into the risk-on market.
USDTRY has now completed most of the forecast upswing. I think the short is going to start soon.
USDTRY- 23Feb2022USDTRY- 23Feb2022
On the H4, price has finally managed to closed above pivot level at 13.62 yesterday. This pivot will become key resistance-turned-support if the price drops back in the future. If USDTRY bounce higher, it will faced resistance at 14.03.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY-NEUTRAL - possibly upside biasThe Ukraine situation has placed pressure on USDRUB and may also start affecting other weaker currencies like TRY.
The stochastic is negative and we are well protected at 13.98 and 14.23.
For now am remaining neutral, but medium- to long-term seller at current 13.50-13.75 and 14.50 - 16.00 and higher. the monthly chart has had no real correction as yet, and I feel confident we will see 10.50 - 9.00. In between waters are unclear.
USDTRY- 21Feb2022USDTRY- 21Feb2022
On the weekly, this week will be the 8th week that USDTRY is consolidating sideways. If it fails to breakout this week, we could expect it to drop back to 20EMA at 20.45
On the H4, price is once again testing the pivot at 13.620. As it have broke out of triangle pattern on H4, we could potentially expect price to bounce higher to 2nd Resistance at 14.285.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY-NEUTRALEvery day same story. I am just updating to show fresh chart.
We got resistance at 13.98 and 14.23. The medium-term picture is SELL in rally and beshort current levels and add 14.50-16.00 and upwards. Especially, the monthly chart is very overbought still, and as much it is hard to believe, we may see 10.50 > 9.00 based on the need of a correction to adjust the LONG USD market.
USDTRY- 18Feb2022USDTRY- 18Feb2022
On the H4, price once again faced bearish pressure from the pivot at 13.620. After numerous times of failure to close above 13.620, we could potentially expect it to drop and retest support at 13.325.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY-NEUTRAL RANGESNot much to say, except that the only change we see, the change of day :)
Medium-term I still remain seller 13.50-14.50-16.50 for a move to 10.50 - 9.00.
I am not sure if we get a run up first, since daily we are not seeing any move what so ever. However, we should be SHORT (USDTRY) medium-term based on monthly chart, is my humble opinion.
USDTRY- 17Feb2022USDTRY- 17Feb2022
On the H4, price once again flirted with the pivot level at 13.620 before dropping back down. With current price action above all 3MAs + the upper trendline wedge , we could expect it to bounce higher to 1st resistance at 14.035.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY-LONG TERM SELLThe daily activity is non existent.
The long-term picture is little more clear, but with a wide range. The RSI is extremely high still, and the stochastic is turning positive. Looking at the chart, it provides a basis for a SELL strategy.
SELL between 13.50 up to 16.50 for a move towards 10.50 > 9.0000. The long-term condition of the market is very long, and yes, we may be able to move little higher before down, the idea is to SELL into the rallies.
USDTRY- 16Feb2022USDTRY- 16Feb2022
On the H4, price flirted just above the pivot level at 13.620 before dropping back down. With current price action above all 3MAs + the upper trendline wedge, we could expect it to bounce higher to 1st resistance at 14.035.
This is for personal record purposes only, not financial advise or solicitation of trade.