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EUR TRY

Analysis of EURTRY 17.10.2019The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 6.5500 • Take Profit Level: 6.0000 (500 pips) If the price rebound from resistance level, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Short Position • Entry Level: Short Position 6.4800 • Take Profit Level: 6.4600 (200 pips) USDJPY A possible long position at the breakout of the level 108.90 GOLD A possible short position in the breakdown of the level 1476.00 USDCHF A possible long position at the breakout of the level 0.9910 EURUSD A possible long position at the breakout of the level 1.1095
by PaxForex
EURTRY Ausbruch verliert etwas an DynamikNach dem Ausbruch aus dem Abwärtsdreieck pendelt der Kurs leider seit mehreren Tagen um die 6.50 herum. Die fehlende Dynamik lässt meine "Conviction" etwas schmelzen. Dennoch bleibt bis auf weiteres das Long Szenario weiter aktuell. Die politische Lage ist weiter sehr undurchsichtig. So unangenehm es klingt aber der erste Impuls, dass der angezettelte Krieg schlecht für Wirtschaft und Währung ist, könnte sich als übertrieben herausstellen und gegebenenfalls sogar ins Gegenteil umschlagen. Bullishes Szenario definitv beendet bei Kursen um 6.20
Long
by cmpndng
EURTRY breakout happenedRoughly one month ago I pondered about a breakout of the turkish lira. Now it seems this scenario might happen. Breakout of downward trending line is clearly visible. Move is probably backed by geopolitical tensions directly involving Turkey and economic threats being issued by the US against the country. In the most optimistic case, we could see prices of 8 and above again. Timeframe 3 months. If price dips again under 6.20, the scenario clearly didn't play out. This is also where I would put my stop
Long
by cmpndng
EUR/TRY - Bullish Setup in a yearly symmetrical triangleFX:EURTRY *** DISCLAIMER *** Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. **************************** The price did a false breakout just yesterday and then re-entered in the symmetrical pattern (11 months old) with a long 4H candlestick. In my opinion the plan is to wait a retracement on the lower base of the triangle and wait for an engulfing or pin bar pattern, just to have a confirmation of the bullish pressure.
Long
by Logical_Knight
EURTRY | EURO/LIRA Short on CorrectionSelling Lira because the overnight funding you sometimes get is just insanity! On my broker I get 0.05% on my LEVERAGED position... PER NIGHT! That's 1% in just three weeks! For example I sell a position for $1000 which is leveraged x100 = $100,000. I get $1000 in just three weeks which is my initial investment, this means I make 100% ROE in three weeks if market moves sideways. The technical analysis actually says it probably goes down. Insane. To the technical analysis: Wait for correction to next weeks central pivot point or 21/34 EMAs then SELL and HODL.
Short
by MarcsPal
Analysis of EURTRY 26.07.2019The price is below the moving average of 20 MA and MA 200, indicating the downward trend. MACD is below the zero level. The oscillator Force Index is below the zero levels. If the level of support is broken, you shall follow the recommendations below: • Timeframe: H4 • Recommendation: Short Position • Entry Level: Short Position 6.2900 • Take Profit Level: 6.2200 (700 pips) If the price rebound from a support level, you shall follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 6.3900 • Take Profit Level: 6.4100 (200 pips) GOLD A possible long position at the breakout of the level 1426.00 USDCHF A possible long position at the breakout of the level 0.9920 GBPUSD A possible short position in the breakdown of the level 1.2410 USDJPY A possible long position at the breakout of the level 108.80
by PaxForex
EURTRY setting up nicely for a leg upOne of my favourite pairs this weekend. So much confluence for an upside leg. Let's break it down. 1) Price printed a doji on the last trading day. That is a somewhat sign of reversal. 2) Price printed the doji at a strong area of support . We can see how many times the price has jumped from this area in the past (green circles) 3) Price printed the doji at a strong area of support and right at the 200MA. Now, this is a strong sign for a reversal. Price is supported by horizontal support and the 200MA. 4) Price printed the doji at a strong area of support, right at the 200MA and right at the ascending trendline (red trendline) dating from beginning of this year. This is extremely strong 5) Double bottom. The price of the pair is rejecting the same area it rejected on 5th of July. 6) RSI divergence. We see that the price made a low on 5th of June and 5th of July but the RSI didnt go lower, instead it stayed neutral. On this new low the RSI has actually won strength. Another sign of reversal. Not everything is perfect though: 1) Price is capped by a descending trendline (blue trendline) that has been respected since May. A break of this trendline will totally confirm the leg up. 2) Price is capped by 50MA before it could reach the horizontal resistance. So we will use 50MA as PT1 as it could send the price lower again. Lets look at the 4H chart to get a trading plan : We clearly see the double bottom and the same RSI divergence than on D chart (purple lines). The Price Action is not very clean but we can make 2 different plans. - Plan A: Blue arrows -> Price recovers to the descending trendline where it will also hit the MA50, retraces a bit before continuing higher. - Plan B: Red arrows -> Price breaks the descending trendline and keeps going higher until hitting the 4H resistance area that will also be the 200MA. Price could retrace back to the trendline, it will be also the MA50, before continuing higher. I will wait to see how the pair wakes up on Monday morning but if not much of a change I will buy straight away and exit the trade if a 4H candle breaks and closes below the support and lows of 5th of June. If I am missing anything let me know in the comments!
Long
by MicKi
4
Istanbul defended democracy, but Erdogan is still in powerHello dear Turkish Lira traders, merhaba arkadaslar! ;) Istanbul clearly defended democracy on Sunday, giving the counterpart of the AKP, Ekrem Imamoglu, the majority of the votes, even in districts where the AKP had previously a stronghold. Even though Erdogan was not directly up for election, it was a clear message to the government: If you do not count our votes in the election, we will not stand still . The Istanbul mayoral election, which had closed almost 50:50 in the previous election, now went clearly 54 to 46 towards the CHP in the reelection. What does it now mean for the Lira? => While it is clear that the CHP won Istanbul now -and with it almost one third of Turkey's economy- Erdogan is still the man in the land . He controls almost all political institutions, even up to the legislature. While people are on the streets dancing, at the same time the trials against the Gezi Park supporters like Osman Kavala have started. So, it's back to usual, esp. if the the government intervened before the election to hold the Lira stable: We're currently building a nice Double Bottom on the Daily, which needs to see a break above the Pullback High 'neckline' to see a confirmation. If we see a breakout here above 5,9 TRY, we could easily reach 6 and above, which would make the green line of my big time-frame analysis from Friday the most likely scenario: You can check it out if you want, I'll link it under the description. Selamlar, Deniz from Edgy Can you read the chart yourself, or are you still dependent on other people like myself to read it for you? Are you an 'illiterate in charting'? Do you have a trading plan with sheets, or are you trading from your head? Are you already making gains over the long-term, like a casino, or are you losing over the long-term, because you have no idea what your strategy is? => Those are all important questions, where are I can help you with. I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_