Stable TL For the Next Few Years? A quick update on the future of the Turkish Lira (TL):
Interest rates will rise to the range of 30% to 35% and will remain high for the following years (possibly 2-3 years). The Turkish Central Bank will stop printing vast amounts of money, and getting loans for purchasing houses or cars will become difficult. This action will lower inflation for few years. TL will have a correction to the levels of 20-23 within a few years.
After 3-4 years, the next target will be levels of 40-60. The Central Bank will continue to print money and lower the interest rates. That will trigger another inflation around 2027-2028.
Targets:
First target: Range of 28-29
Second target: Range of 25-28 for a few years
Third target: Levels of 20 for a swift correction
Last target: Levels of 40 after 2-4 years
This constitutes a very long-term analysis. It is important to note that this assessment could be inaccurate; all the stated opinions are personal. The market can undergo drastic changes due to even a minor policy adjustment. Therefore, exercise caution and conduct your own research before making any decisions. Stay safe.
Tl
USDCAD: 2 Options, 1 Result !On USDCAD, bullish scenarios are more likely to have place in the next few days:
Scenario 1: The upper trendline is valid and the price is sitting around a support so if it breaks it upward, a Long position can be entered.
Scenario 2: A less risky possibility could be that the price will dive in the zone one last time before breaking the upper trendline for good. A better RRR can be reached with this one.
Trade Safe and Best of Luck
MacroForex
💡 Don't miss the great buy opportunity in USDTRYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.298). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 48.
Take Profits:
TP1= @ 7.4280
TP2= @ 7.5543
TP3= @ 7.7507
TP4= @ 7.9057
TP5= @ 8.0285
TP6= @ 8.5745
SL= Break below S2
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Two great Buy opportunities on this chart for USDTRYMid-Term Forecast
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.4086). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 7.4086
TP2= @ 8.0000
SL= Break below S2
----------------------------------------------------------------------------------------------------------------------------
Short-Term Forecast
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.4123). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 7.4530
TP2= @ 7.7210
TP3= @ 8.0000
SL= Break below S2
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#USDTRY #USDTL #USD #TL $ #ELLIOTWAVEusdtry elliottwave perspective view
Alternative 1) If it sees around 6.50 (green area) and turns up and is permanent on the red line (above 7.30), the rise started.
Alternative 2) If it falls below the green area, it sees around 6.00 (pink area), the rise begins. 7.30 is also important in this. 7.30 must be exceeded for real rise.
Alternative 3) Cannot hold in the 1st Pink area. It falls to around 4.50 (2nd Pink area). After this fall, the journey to AY begins.
my favorite 2nd alternative
#EURTRY #EURO #TL #euroTLAlternative 1) If it sees around 7.10 (green area) and turns up and remains on the red line (7.90), the rise started.
Alternative 2) If it drops below 7.00, it starts to see around 6.50 (pink area) and rise. Red resistance is also important in this. Red must be crossed for real rise.
Alternative 3) It cannot fall in the 1st pink area and falls to around 5.00 (2nd pink area). After this fall, the journey of AYA begins.
Favorite way (Alternative 2)
XAUUSD: Gold Short with good pip potential and high rewardsGold is well known for its volatility as has been seen over the past few weeks, where we've seen it rocket up to the 1680 range due to investors rushing in with the threat of Coronavirus. However, they have since had a reality check and as a result gold has reached a channel. This channel is easy money whilst it holds.
As shown on the graph we have been seeing lower highers and lower lows on the hourly, creating a descending, closing channel. It has twice rebounded off the pivot point which is the reason for taking partial profits but overall has a great potential to reach 1600 and below in the event it breaks to the downside, and if not plenty of profit will be banked regardless.
Keep in mind Donald Trump is speaking later today and that can create unpredictable volatility so suitable risk should be used.
USDTRY 4H Long buy opportunity We can take a long buy trade
from recent levels :
5.5730 - 5.6200
TP1 : 5.7700
TP2 : 5.9630
TP3 : 6.1830
Stop Loss : 5.4000
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
Good luck
USDTRY LONGTHIS USDTRY SETUP IS AN OVERLAPPING TREND LINE AND 200 EMA TRADE. SINCE TRY ,HAS A INCREASED VOLATILITY ESPECIALLY WHEN POLITICAL UNCERTAINTY RISES , IS AN ADVANCE CURRENCY TO PLAY WITH. SO, I AM GOING HERE WITH ZONE ESPECIALLY FOR THE ENTRY AND THE STOP. YOU CAN PICK YOUR EXACT ENTRY REGARDING TO YOUR RISK LEVEL. I AM A HUGE BELIEVER THAT THIS PAIR CAN GO ONLY UP IN THE LONG TERM IT IS HARD TO BENEFIT FROM THE SHORT TERM MOVEMENTS. THIS IS MY GAME PLAN FOR A SHORT TERM USD WEAKNESS.
1ST ENTRY- 5.5905 (TREND LINE SUPPORT&200 EMA) 1/2 POSITION
2ND ENTRY- 5.5505 (ROUND NUMBER LEVEL) 1/2 POSITION
STOP - 5.4995 ( BEFORE BIG 5.50 ROUND NUMBER )
PT: 5.7645 (PREVIOUS SUPPORT AREA)
PT: 5.6995 (PREVIOUS SUPPORT AREA)
M MANAGEMENT:
IF ONLY 1ST ENTRY FILLED ,I WON`T TOUCH UNTIL PT(5.7645)
IF BOTH ENTRY'S FILLED SCALE DOWN JUST BEFORE 5.70 LEVEL
ICXBTC long setupSpotted a potential long setup for ICX BTC pair, based on volume, higher timeframe RSI TL breakouts. Could take months to fill the orders.
Looking for a stop run on the two most recent swing lows for an entry.
Similar to what happened last December->Feb
Can ladder orders within the green box.
When they get filled, stop losses go below the green box, or below the swing low that fills your orders.
Medium term targets are shown on the chart, and are determined by S/R levels.
High RR for this entry! best of luck to anyone who plays this.