TRYUSD Long PositionTRYUSD Long Position. Money Flow Index(MFI) Looking Good. 20MA used as support.
10x Leverage
14% Take Profit
2.8% Stop Loss
Educational Purpose Only! Not a Investment Advice
Trylong
Turkish Lira Showing Signs Of StrengthI posted a monthly chart for the Dollar a few months back that showed the Dollar will continue to lose value in the future. This will obviously not happen overnight, but I expect over the course of 2021 the dollar will continue to it downtrend. Looking at the Turkish Lira monthly chart, we see bullish divergence, and several indicators showing strength. If you look into the emerging currencies market vs. the Doallr you will see the same exact picture. DO NOT be fooled, the Dollar will lose value this will impact the US economy on a global scale.
Reversal trade short on the EURTRYLooks like Turkish lira will regain some strength against the Euro.
I am trading the retracement back to the Kumo and Kijun. At the same time I will capture the interest differential of around 24%.
USDTRY 1:4 Risk Reward SHORT (Fundamentals)If you get involved in provocative acts, saying ‘foreign currencies will strengthen, this will happen, that will happen’, you will pay a very heavy price - Erdogan
TRY
Fundamental Quant Score +60
USD
Fundamental Quant Score -4
Investors seek reforms, fear populism
Lira initially weakened 2.5 percent
Shares rise 1 percent (Updates lira, adds London swap rates, dollar bonds)
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.
$TRY Find Bottom?Turkey Lira find bottom against US Dollar now?
President Erdogan doing everything to hold up the economy bully from US Government under Trump administrations. I think If this effort holds up we're praying that their country getting better, because their role is quite significant in Middle-East countries for muslim community all over the world. Turkey will be one of many nations that really care about muslim community and that's why they receive mass rounding from their enemies. We should fight and pray together.
