TRY
EUR/TRY 1H Chart: Previous forecast at workThe EUR/TRY currency pair breached the falling wedge south. The rate has been trading south and reached the psychological level at 6.25.
Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, the general direction is expected to remain south within the scope of the next week. It is likely that this decline is bounded in a descending channel.
It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the 200-hour SMA, currently located at 6.4372.
Looking for a sure way to make money even if you are wrong?Let me present: the Turkish Lira carry trade.
Erdogan is a nice guy giving us free money if we invest in his dead currency.
There is probably bullish divergence here so I would wait either for resistance to get hit, or a break down, maybe an inside bar, anything to get that juicy juicy trade.
Against the euro the rate is even higher
I did not check with every broker, maybe rates are even better elsewhere.
Be sure to keep an eye on this.
If:
- You go short and it goes down you make heaps of money
- It goes sideways for a long while, which could happen it went down alot, you make heaps of money.
- It goes up you lose some. the risk reward does not need to be very attractive, if your stop is far away, it will probably take alot of time to get reached, and during that time Erdogan showers you in gifts :)
That carry trade is what made the thing explode (I think?) so there is this danger, but it exploded too much ....
It seems to be still interesting, just don't do it blindly and stupidly look for a trade that would be profitable on its own (50% odds and 1:1 good enough), selling a break or at resistance good enough.
I did not look at all the details maybe it is not as interesting as I think :p
USDTRY - Long for completion of larger degree flatUSDTRY will be making running or expanding flat for the X wave in WXY combo.
Looking for longs for the C leg of the flat.
We have impulse and correction, watch for breakout to long.
TRY/JPY 1H Chart: Previous forecast at workThe previous forecast worked, and the TRY/JPY currency pair continued to trade in a short-term ascending channel.
As apparent on the chart, the exchange rate is supported by the 55-, 100– and 200-hour SMAs near the 19.80 mark. It is expected that the pair surges towards the resistance cluster formed by a combination of the weekly R3 and the monthly R2 in the 20.42/20.69 range.
However, if above-mentioned moving averages do not hold, it is likely that the rate goes downwards to re-test the lower channel line in the 19.60/19.80 area.
USDTRY Trendline Test Incoming - LONGIf green trendline holds, we will never see 5.50 levels ever in USDTRY. This is a long term buying opportunity. If green line fails, stop and watch the market until it gets backup again.
USD-TRY prise sharply crossed 5.6000 levelAs we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640
We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped to 5.70 not because of negative trend for Turkish currency, but due to USD fluctuations.
Targets:
Resistance - 5.7760 (R1); 5.9092 (R2)
Support - 5.7168 (S2); 5.6456 (S1);
Important topics which had an impact on currency market, during last week:
* Khashoggi crisis
* Berat Albayrak“Fluctuations in...finance sector have ended”
* Trump - "Feds going loco!"
* Brexit stuck
* TCMB release
USD TRY, US dollar Turkish lira forecast and analysis As we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640
We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped to 5.70 not because of negative trend for Turkish currency, but due to USD fluctuations.
Targets:
Resistance - 5.7760 (R1); 5.9092 (R2)
Support - 5.7168 (S2); 5.6456 (S1);
Important topics which had an impact on currency market, during last week:
* Khashoggi crisis
* Berat Albayrak“Fluctuations in...finance sector have ended”
* Trump - "Feds going loco!"
* Brexit stuck
* TCMB release
USD-TRY forecast and short term analysis As we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640
We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped to 5.70 not because of negative trend for Turkish currency, but due to USD fluctuations.
Targets:
Resistance - 5.7760 (R1); 5.9092 (R2)
Support - 5.7168 (S2); 5.6456 (S1);
Important topics which had an impact on currency market, during last week:
* Kashoggi crisis
* Berat Albayrak“Fluctuations in...finance sector have ended”
* Trump - "Feds going loco!"
* Brexit stuck
* TCMB release
Amiran Azaladze
amiranazaladze@gmail.com
Some Successful Trades By Yekturus On TRYUSDSome significant trades by Yekturus Strategy on TRYUSD.
Yekturus Strategy Page:
Disclaimer:
This strategy is for information purposes only. It is not intended to be investment advice.
USD/TRY 1H Chart: Descending triangle in sightThe USD/TRY currency pair has been trading in a descending triangle since the end of August.
As apparent on the chart, a breakout from the pattern might occur in the nearest future. From the theoretical point of view, the pair should go downwards the support level formed by a combination of the weekly S2, monthly S1 and the Fibonacci 38.20% at 5.7597.
It is the unlikely case that some bullish pressure still prevails in the market, the US Dollar should not exceed the psychological level at 6.2000.
USD/TRY - Call me mr. SubmarineBecause I am deep underwater.
Put on more risk than I originally intended too. Got my stop placed at $5.973 right now. After that I am out
HOUSE OF THE VIRGIN MARYClear move here?
Everyone thought bitcoin was great when it was going up Sharply; however if we focus on the economic turmoil currently radiating through turkey it is clear that parabolic price inclines in a currency do not necessarily mean positive things other than profit for traders on the correct side of the market.
Smaller time frames show bearish momentum increasing
Put a stop above the previous monthly high and T/P on the first breakout which is a suitable target for the time being.
lets long the lira
USD/TRY - Judas swingJudas swing - low of the week being formed on Tuesday London open
I should put more money into this trade.. its perfect $$$
Possible bullish breakout for TRY/JPY incoming!Turkish Lira and Japanese Yen dropped a lot recently, and I think a reversal could occur - at least for a short time. Keep an eye out for breakout confirmation in the next few days.
