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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

Thing didn't improve for the Lira. I made some posts about the Lira back in 2022 but shortly after this all my major brokers went exit only liquidity on the Lira and since I could not trade it I stopped paying attention to it. Look what happened since then. This is wild. Still no liquidity on this. I'd actually take a pop at shorting this if there was. Anyway, just another fat tail TA test. No real position here, just curious to see if my rules would be effective or get rekt.
Short
by holeyprofit
4
USD/TRY: The Turkish Central Bank updates inflation expectationsThe dollar pair stabilized against the Turkish lira USD/TRY during today's trading, to trade the Turkish currency at its lowest level ever against the dollar. On the American front, the dollar rose against major currencies after the Federal Reserve's decision last week to raise interest rates, as the dollar received support after a limited decline. At the present time, investors are awaiting more economic data to try to explore the path of monetary policy that the Federal Reserve may follow during the coming period, especially after inflation began to slow down. Current expectations indicate that raising interest rates during the past month represents the peak of monetary tightening in the United States of America, as the Fed is expected to stabilize the interest rate for several months before shifting and applying a rate cut starting from the second quarter of next year.
by Evar_Mayi
Current situation of the USD/TRY currency is in despairWhen analyzing the current situation of the USD/TRY currency pair, based on the latest data, it can be observed that 1 US dollar equals 26.0174 Turkish Lira. The daily change in the pair is recorded as -0.0096 or -0.0369%. In the past month, the highest value reached was 26.1617 TRY, while the lowest value was 20.1082 TRY. Considering the evaluation of technical indicators, oscillators indicate a neutral condition. The Average Directional Index (ADI) suggests a certain direction with a value of 48.7381. In short, there is no significant trend in the pair. Looking at other indicators, moving averages provide a strong "Buy" signal. The Relative Strength Index (RSI) is in the overbought zone with a value of 70.1857, and the stochastic oscillator is at high levels. Based on technical analysis, it can be said that the indicators giving a "Buy" signal are predominant in the pair. However, in the long run, BIST may be more beneficial, and KKM also appears to be sensible.
Long
by BorsaMerkezi
TRY Bleeding Out%19 Interest rate, huge debts, vaccination progress is still very low. Turkish Central Bank manager kicked out because of interest rates, but we have still a huge interest rate and USD/TRYis still going forward. What Turkey could do? No tourism income for now, no leverage hand for interest anymore. Unfortunately, TRY will be 10 soon if we close daily above 8.58. Also, don't forget DXY is bleeding out what is gonna happen when DXY hits 98 again. Not financial advice.
Long
by kargaa
6
Türk lirası (USDTRY)- Textbook Entries 🏛️📑Given that I am Long on EURUSD this period i prefer to trade EURTRY instead of USDTRY: Check my post here for targets: Thoughts: Some governments (not the people) prefer their currency cheap, it helps with exports. People choose their government. In this case Erdogan has been re-elected. A cheaper Turkish lira supports the plan of what I will dare to call  'Islamo-China-ization': Cheap currency helps bring tourism and business but does not help the Turks study abroad or buy from abroad.  China for example likes their currency cheap. Erdogan focuses on producing and selling (from goods to guns) instead of importing and at the same time turns the country into a 'claustrophobic anti-Western entity' to achieve so. Off course himself and his bankers are only growing stronger assisting Russians with sanctions and keeping 'one leg in NATO and the other in the East'. Creating an 'enemy or 2 or 3 or 50' helps the cause. Talking about Ottoman empire, Islam and 'kismet' also helps the 'Supreme Leader's' purpose.... but this sounds more like Iran and North Korea than a 'democratic modern nation'. Are people happy in those countries/regimes? These can be dangerous days for the Turkish Lira and the Turkish people. Will the IMF need to step in? Will it want to step in? Will Erdogan accept it? Or will Qatar, the Russians or anyone else (?) run to the rescue for their own interest? Could that be the BRICS? (in any case, there is no such thing as free money) All these questions will remain un-answered until we know the answer. For the time being TRY keeps weakening against the USD and EUR. 26,5 TRY to a EUR is a possibility here. By the way, my last post was a PERFECT entry and it was the third in a row: When a country goes into economic problems and it's leader is a revisionist there lies a danger of war. Ukraine is a battlefield nearby where East and West are 're-shaping borders'. The worst case scenario here would be for Turkey to end up picking a 'camp' and entering a fight, which historically has happened many times in similar situations. (Look at the last 2 links below....) “Old men make war, young men fight and die.” — Winston Churchill I can only wish Turkish people peace and prosperity and may Erdogan find a balance between reality and economy. Young people with 'warm blood' should not waste it for 'dangerous political ambitions' but instead should have access to education, opportunities, jobs and prosperous future. One Love, The FXPROFESSOR Links: Economic unorthodoxy and culture wars : www.theguardian.com The West: www.bbc.com Brics: watcher.guru Russia and Turkey have a Long history of being friends and then fighting: www.reuters.com Turkey and Greece tensions ease: greekcitytimes.com EURTRY PERFECT ENTRIES: www.tradingview.com
Long
by FX_Professor
15
USDTRY-SELL Long-termThe pair makes every day higher highs, and what has been told is the constant purchasing of US dollar and the central bank inability to stop the flow. However, it is not a new story, and we can see on the chart (where RED arrow), we can indeed correct sharply. The RSIs were very extreme, and currently across the board, the daily, weekly and monthly chart are at overbought levels that are out of this world. I have been looking at this for a long time, and anything with a level of RSI near 90.0 or higher, will correct extreme as well. The correction should go at a minimum to 14.60 GANN support and when broken we visit 10.00 again as well, which may look very unlikely. It depends to how the government will act from now on. Those on the ground will have a better view on that.
Short
by peterbokma
16
USDTRY- SELL Long-termOf course, the pair is a controlled mechanism, and fast buyers of USD which makes it difficult for the central bank. We are nearing 2nd voting 28th May 2023, and amidst that extremely high inflation. So either we get a completely new currency, or we have a large correction upcoming. Those living in Turkey are far more expert than me on the current situation inside the country. I can only state technically that I have seen such levels of overbought state before, and corrections will happen, unless as mentioned a move away from the currency and start a new. Strategy LONG-TERM SELL between 18.50-21.50 and correction can takes us down to GANN support near 15.00.
Short
by peterbokma
9