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USD/TRY_TOD - USD/TRY

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USDTRY_TOD trade ideas

USDTRY- 14Feb2022USDTRY- 14Feb2022 On the weekly, this week will be the 7th week that USDTRY is consolidating sideways. If it fails to breakout higher either this week or next, we could expect it to drop back to 20EMA at 20.32 On the H4, price seems to have broken above the upper trendline wedge. As long as price can stay above this upper trendline, it is likely to once again bounce higher to retest the pivot at 13.620 level. This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS
2
USDTRY-NEUTRAL - LONG TERM SELLDaily am repeating the same story, but at least we got a fresh chart to view. No change in view, and yes, as some have noted, they are keeping the currency pair within a narrow band. I guess until such time the market has enough of it and will devise then the next move. Medium-term we remain SHORT for a move to 10.50-9.00 which not everyone accepts as a possibility. The monthly chart is OVEBROUGHT and quite extreme, so we still need to reduce this pressure and that is why it is very possible to see this low.
by peterbokma
USD/TRY: the instrument develops flat dynamicsCurrent trend The US dollar shows ambiguous trading dynamics against the Turkish lira, remaining around the level of 13.500 for quite a long time. Activity on the instrument remains quite low, as trading participants are in no hurry to open new positions before the publication of important macroeconomic statistics on inflation in the US next Thursday. Analysts' forecasts suggest further growth of indicators, which is likely to become an additional argument for the US Federal Reserve in favor of a more active increase in interest rates. At the moment, market participants are arguing about the level of their adjustments at the next meeting of the regulator: whether the increase will be 50 basis points or limited to a weaker 25 basis points and how many rate hikes will be implemented in 2022. As for the positions of the Turkish currency, it still depends on the rhetoric of the country's President Recep Tayyip Erdogan, who insists on further continuation of the loose monetary policy. Since September, Turkey's central bank has cut interest rates by 500 basis points, while policymakers in other developing countries are adjusting them upward to keep inflation from picking up. In January, the growth of consumer prices in the country was recorded around 48.7%. However, at a meeting on January 20, the regulator left the current monetary policy parameters unchanged and the rate itself at 14%. Experts believe that the current position of the authorities makes the national currency the most vulnerable, and it is likely to continue to decline against the backdrop of the upcoming US Federal Reserve rate hike cycle. Support and resistance On the daily chart, Bollinger Bands move flat. The price range practically does not change but corresponds to the current trend of the instrument. The MACD indicator decreases, keeping a poor sell signal (the histogram is below the signal line). Stochastic reached 80 and reversed into a downwards plane, which, however, correlates with the real dynamics of the instrument slightly. Resistance levels: 13.661, 13.851, 13.939. Support levels: 13.526, 13.428, 13.343, 13.260.
by KirkBarton
2
USDTRY Consolidation Will Likely End, Followed By A Gap UpTrade Idea Looking into the USDTRY the chart looks to be ready to start a breakout in the upward direction. The main indicator here is the Bond Rate (Turkey), which is much lower than 1. Typically, when the indicator is below 1, USDTRY moves up substantially. Economics: Turkey itself is a Country with huge inflation issues, and other economic crisis so in short, it shouldn't be surprising to see the market gap the USDTRY up. Profit USDTRY I believe has one of the highest potential gains in the current market. I believe a 10% move up on the USDTRY is going to happen, a 10% gap up without leverage is insane. Given how volatile the market is I wouldn't be surprised to see USDTRY push Alltime Highs sooner or later.
Long
by XRPisDead
1
USDTRY 4 Hour ChartThis is a test chart for my modified predictive indicator. The red arrows are stops. High and Low points can occur on the white vertical line (Daily Swing Prediction line) or within three candles on either side of a white vertical line The trade is entered when a candle crosses the White vertical line (Daily Swing Prediction line) and there is a change in candle color. After the candle color change the first candle to be completely captured by the 4 MA is the trade entry candle. The trade is exited when a candle crosses the White vertical line (Daily Swing Prediction line) and there is a change in candle color. After the color change the first candle to be completely captured by the 4 MA is the trade exit candle.
by Dinjin
USDTRY- SELL strategyThe daily chart is a RANGE only with resistance 13.85 and if broken for any meaningful upwards move. The weekly chart is MID WAY and we have FIB. supports and resistances to play with (as shown). Judging MONTHLY CHART and WEEKLY CHART it feels we should be on SELL side, even if it moves little higher, these are ADDING levels only. I suggest SELL 13.50-15.50 range for a corrective move to 10.50. The MONTHLY chart has had no correction really, and the RSI of 86.0 is very overbought, and usually we need the RSI to go back to 60.0 or lower to relieve the pressure. the market is for that reason still LONG USD and an objective of 10.50 or lower 9.50 is still very much on the cards from a medium-term prespective. short-term we have no specific direction for now.
Short
by peterbokma