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TRY

USDTRY bearish below 4,98 levelHello traders, The TRY has dropped over -3,5% against some majors, over 1800 pips in less than 2 hours, since Turkey´s central bank has hold the interest rate level at 17,75% unexpectedly. After the huge spike of the USDTRY, now it is pulling back after being unable to break the 4,98 level for the third time. Even though the USD is experiencing a huge spike thanks to the positive fundamentals, the USDTRY remains bearish below 4,98 due to: - RSI divergence. - 4,98 resistance level. Enjoy your trading! Check my previous forecasts: JPM Brent EURUSD
by Adrian_Armentia
TRY/JPY 1H Chart: Target set for 24.50The TRY/JPY exchange rate has been consolidating in the 22.6140/24.6060 range since the beginning of June. Its bottom boundary was tested last week. The Lira has since appreciated slightly and moved past the monthly S1. This up-move has allowed the rate to reach a medium-term channel. This pattern has remained intact, reinforced by the 55-, 100– and 200-period (4H) SMAs. However, it should also be noted that the pair has nevertheless remained trading along this channel. This shows that the Lira might be ready to surpass the given resistance cluster and target the upper range line at 24.6060. There is another important resistance level formed by the monthly PP and the 55-day SMA at 24.00 that could hinder the pair for a moment.
Long
by UnknownUnicorn890690
A great opportunity to buy in Turkish Lira. keep your eye on it.Midterm Forecast: The current trend is uptrend and the forecast is the continuation of uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 51. Trading suggestion: There is a possibility of temporary retracement to suggested Buy Zone (4.4600 to 4.3200). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (4.4600) Ending of entry zone (4.3200) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 4.5545 TP2= @ 4.6770 TP3= @ 4.8035 TP4= @ 4.9225 TP5= @ 5.0000 TP6= Free
Long
by ForecastCity
A great opportunity to buy in Turkish Lira. keep your eye on it.Midterm Forecast: The current trend is uptrend and the forecast is the continuation of uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 51. Trading suggestion: There is a possibility of temporary retracement to suggested Buy Zone (4.4600 to 4.3200). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (4.4600) Ending of entry zone (4.3200) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 4.5545 TP2= @ 4.6770 TP3= @ 4.8035 TP4= @ 4.9225 TP5= @ 5.0000 TP6= Free
Long
by ForecastCity
2
USD/TRY 1H Chart: Pair approaches record highThe massive surge of the US Dollar which ended on May 23 was followed by two weeks of decline. As a result, the pair approached the upper boundary of the breached medium-term channel prior to reversing back to the upside. USD/TRY is gradually approaching its many-year high of 4.90. It is expected that the Greenback continues to edge higher during the following trading days until this level is reached. The monthly R1 is likewise located nearby at 4.95. However, it should be noted that technical indicators are starting to converge with the price movement on the daily timeframe . Thus, it might still be a few days before the price picks up the bearish sentiment and targets the 55-, 100– and 200-period SMAs on the 1H, 4H and 1D timeframes. The nearest support of importance is the monthly PP at 4.50.
by UnknownUnicorn890690
4