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USD/TRY_TOD - USD/TRY

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USDTRY_TOD trade ideas

USDTRY - PLEASE SELL SELL ONLYI know what you think... a 9.8% move just one day. As said before, small increments selling USDTRY, but I fully understand the rocket move we are facing. The Daily RSI 97.0 now (unheard of) and Weekly almost 91.0. The last time this happened, the correction was 2.5 points, so the 10.13 objective is still valid. The same happen with USDITL and DEMITL long time ago. Capital outflows due to capita restrictions rumors etc were causing the market scare with similar RSI and price movements. I do not change view and see this as opportunity albeit a small position only as its scary movements no doubt.
Short
by peterbokma
2
USDTRY- 22Nov2021USDTRY- 22Nov2021 On the monthly timeframe, we could expect 3 white soldier candles forming. Hence a bullish momentum is expected for the rest of Nov21. However, the current price is over-extended. We should be cautious on its further upside. On the H4 timeframe, prices continue to be over-extended. Price may pause to catch a breather. We will need to monitor its price action for further upside potential. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
Aesthetic Analysis: Highest Point of the YearUDTRY had made a great jump in the past months, but if aesthetics are to be believe, the power of symmetry lies in a slight pull back before the end of the year. That's mainly due to being in the north edge of a long running logarithmic channel. If this is to be broken, symmetry would demand new balance points which would provide stability to the price above 14. This has a very low probability to happen within 40 days, Therefore, even though all analysts and technical indicators are hinting at a Strong Buy, it looks to me like a Strong Sell for the coming weeks.
Short
by MontyMacht
USDTRY - SELL SELL SELL SELL SELL SELLIt starts becoming a habit, but good habits always remain. I feel strongly about remaining in SELL mode, even though it looks like a run away truck. the facts are, RSI 94.50 for Daily and nearly 88.0 for the weekly chart. An extremely high ADX and Donchian way out of line. The objective is 10.35 > 9.4200 and it will get there after the fear is subsided. from fundamental point of view, the interest rate GAP is large and selling TRY is costly. The mechanism will correct itself and market will normalize. The value of TRY is too weak, and does not represent the true value as it is now.
Short
by peterbokma
2
Bank of Turkey Does Lira In, and EV-Investors Fix ProfitsYesterday can hardly be called overly eventful in terms of news. Perhaps the main news can be considered another attack of economic insanity on the part of the Bank of Turkey. After Erdogan multiplied the independence of the country's Central Bank by zero, his vision of economic laws materialized in the form of a change in the vector of monetary policy in the country. Recall, according to Erdogan, to fight inflation, rates need to be lowered. And since inflation in the country is at 20%, it is not surprising that the Bank of Turkey cut the rate for the third row in a row yesterday. This time by 1%. The main problem with this approach is that everyone in the foreign exchange market believes that the rate cut will accelerate inflationary processes in the country and further devaluation of the national currency. Accordingly, sales of the lira continued with new all-time lows. It is difficult to find today a more hopeless asset in the foreign exchange market than the Turkish lira. So, despite the fact that it has already decreased in price by 6 times over the past few years, this is far from the limit. Another highlight is the announcement of a new stimulus package in Japan. Everyone has already begun to forget, in light of the sharp intensification of inflationary processes and vaccinations, about billions of dollars in incentives to support the economy. But since inflation is not a problem for Japan (not a problem yet), but economic growth is a problem (recall, in the last quarter, the country's GDP collapsed by 3%), the news about the plan to spend about 56 trillion yen (490 billion dollars) on the stimulus package looks logical enough. For buyers in the Japanese stock market, this is great news. But they don't buy everywhere now. In the US stock market, investors decided it was time to take profits in the overheated EV segment of the US auto market. Rivian closed down 15.53% and Lucid down 10.47%. Note that Rivian and Lucid (in fact, two shell companies) occupy the 2nd and 3rd places in terms of capitalization in the US automotive market, ahead of such titans as Ford and General Motos.
Long
by Trade24Fx
USDTRY - SELL SELL SELL SELLI remember very well the time that USD vs. Italian Lira and it's DEMITL cross for way out of boundaries when it came to RSI and trading bands. The Turkish Central bank cut rates once again as a note, but if one views the forward points, the positive carry (IF LONG TRY) is rewarding and make the SHORT SELL worthwhile consideration. The move by the Central bank shows they are easing, whilst inflation rate is extremely high, and for that reason it scares the market. Comparing Italian Lira era, we are in a similar faith under extreme overbought conditions, and no matter how horrible it looks, gravity will take care eventually. SELL and SELL USDTRY at current 10.75 - 11.25 for corrective objective 9.4200. No stop-loss I feel is warranted here, but ensure careful positioning with low leveraging.
Short
by peterbokma
1
long usdtry ‎ Analysis of the dollar, the Turkish lira In continuation to the previous analysis, and after stability above 10.45, the pair entered a new phase The areas indicated in green are resistances and retracement areas for the price in the event of the first touch The second time, if it revolves around it, the price will go to the next area The areas indicated in red are supportive. In case of correction and closing of the lira below 10.77 candles for a whole day, the lira will regain some of its strength and touch 10.45 Pay close attention when opening sales of dollars against the lira, and that they are not long God bless you
Long
by HAMSHFX
2