📉 EURTRY Hits 43 – Time to Drop? 🧭💥
The EURTRY has just reached 43, completing a multi-year journey that began with our pinpoint entries from as low as 15.7. The rejection at 44.2, just beneath the technical resistance at 45.5, signals a likely pause—and possibly a sharp reversal.
🧠 Trade History Recap:
• Rejection at 10 ➝ Support at 8 ➝ Target 15.7 hit
• Entry at 20 ➝ Target 26.5 ➝ Final Target 43 ✅
• Now, we’re setting sights on a retracement to 33 based on Fibonacci levels.
🔽 Short-Term View:
With the upside target hit, we're now anticipating a short-term pullback to 40, and possibly deeper toward 33, as seen in the newly drawn projections. The rejection candle confirms bearish pressure.
📰 Macroeconomic Backdrop:
• April 2025: Turkey’s central bank raised rates to 46% to contain inflation and stabilize the Lira.
• Despite rate hikes, TRY remains under pressure, with over $25 billion in reserves used to defend it.
• Inflation expectations have surged to 29.75% by year-end, reflecting economic instability.
💬 Takeaway:
We may be entering a new chapter. The beast (inflation) is being fought hard, but fundamentals still point to continued volatility. This is a spot to consider profit-taking or even short setups.
🛍️ Bonus thought: This may also be a great time for a visit to Istanbul while the Lira remains weak.
🌍 To our Turkish friends: Peace, stability, and stronger days ahead. Our charts are technical, but our message is human.
One Love,
The FXPROFESSOR 💙
The EURTRY has just reached 43, completing a multi-year journey that began with our pinpoint entries from as low as 15.7. The rejection at 44.2, just beneath the technical resistance at 45.5, signals a likely pause—and possibly a sharp reversal.
🧠 Trade History Recap:
• Rejection at 10 ➝ Support at 8 ➝ Target 15.7 hit
• Entry at 20 ➝ Target 26.5 ➝ Final Target 43 ✅
• Now, we’re setting sights on a retracement to 33 based on Fibonacci levels.
🔽 Short-Term View:
With the upside target hit, we're now anticipating a short-term pullback to 40, and possibly deeper toward 33, as seen in the newly drawn projections. The rejection candle confirms bearish pressure.
📰 Macroeconomic Backdrop:
• April 2025: Turkey’s central bank raised rates to 46% to contain inflation and stabilize the Lira.
• Despite rate hikes, TRY remains under pressure, with over $25 billion in reserves used to defend it.
• Inflation expectations have surged to 29.75% by year-end, reflecting economic instability.
💬 Takeaway:
We may be entering a new chapter. The beast (inflation) is being fought hard, but fundamentals still point to continued volatility. This is a spot to consider profit-taking or even short setups.
🛍️ Bonus thought: This may also be a great time for a visit to Istanbul while the Lira remains weak.
🌍 To our Turkish friends: Peace, stability, and stronger days ahead. Our charts are technical, but our message is human.
One Love,
The FXPROFESSOR 💙
Trade active
Been Long for a LONG time on this. Time to go short as chart says this could be time for the Turkish Lira to recover a lot of losses
📣 Professor's Public Telegram:
💬 t.me/fxprofessor88
🌍🚀 CryptoGPT Trading Agent is the Future:
cryptogpt.io/
💹 Join My Forex Community:
fxprofessor.com/forex-special
💬 t.me/fxprofessor88
🌍🚀 CryptoGPT Trading Agent is the Future:
cryptogpt.io/
💹 Join My Forex Community:
fxprofessor.com/forex-special
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📣 Professor's Public Telegram:
💬 t.me/fxprofessor88
🌍🚀 CryptoGPT Trading Agent is the Future:
cryptogpt.io/
💹 Join My Forex Community:
fxprofessor.com/forex-special
💬 t.me/fxprofessor88
🌍🚀 CryptoGPT Trading Agent is the Future:
cryptogpt.io/
💹 Join My Forex Community:
fxprofessor.com/forex-special
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.