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Turkishlira

USD/TRY: Double Bottom If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! 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.
by Edgy_
Erdogan Lets Cetinkaya Go: Does He Even Understand Economics?Hello my dear Turkish Lira traders, Forex friends, merhaba arkadaslar! ;) Erdogan just let the central bank president Cetinkaya go: He argues that the high interest rates are the reason for the high inflation. But commonly known among economists is that both high inflation & high interest rates are the consequence of a weak currency. Erdogan also shows clearly with the change, that monetary power lies in his hands. Technically we're still in a downward channel, and can break this, esp. due to this news. Have fun watching! ;) Selamlar, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! 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_
5
S400 arrived in TurkeyThe Turkish lira lost its ground against the dollar after the Turkish defence ministry said the first parts of a Russian S-400 missile defence system were delivered the country. Investors rose concerns the US will impose sanctions dragging lira down for about 0.6%. The pair is trading far below the 50 MA with RSI advancing suggesting the dollar strengthening may proceed. Imposing sanctions will go against the lira and the pair could advance to 5.7400 resistance. When breached the 5.8260 will be in sight. Support is set on 5.6540 with next to consider on 5.5700.
Long
by LimitMarkets
Turkish Lira: Equilibrium On The Weekly Chart!Hello dear Turkish Lira traders & watchers, merhaba arkadaslar! Let's have a look at our last analysis: => We clearly didn't see any follow through on the potential Double Bottom, we broke the lows to the downside. Now what? As I had written and shown to you in the last analysis already, we now have a high potential for an Equilibrium on the Weekly chart: => The core range of this EQ goes from 6 to 5.15: we will further tighten inside this range, before we see a breakout coming. The potential colors refer to potential strength by the bulls or bears. This could still take many weeks to come into the end of 2019. What is going on fundamentally? Even though the AKP lost the re-election in Istanbul, any policy or personell changes are not in sight. Previous important AKP members are getting more & more frustrated with Erdogans rule, albeit still behind closed doors. Because of the power loss, the government has further limited the mayoral power in cities, so now for big projects, the major needs the consent of the president too. This shows clearly that Erdogan is basically ignoring the outcome, giving the decision making competence & the jurisdiction to himself immediately. Therefore, fundamentally, it is hard to imagine to see a break out of the EQ to the bottom side, but as I said, there is still much time until then. 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? 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.
by Edgy_
2
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_
Is Erdogan rigging the Lira (and the election) ?Hello dear FX & Turkish Lira traders, merhaba arkadaslar! ;) It's been a long time since I've made an analysis to the Turkish Lira : But yet again, we have important elections coming up on Sunday: The AKP didn't accept the outcome of the first voting, which sent the pair through the roof immediately with an Ascending Triangle : Since then we've been consolidating & have given the whole move back. But some already speculate that the government might be rigging the price, in order to keep it calm before the election. We will see the market reaction, once the election is done -and this time- accepted. Should we keep on going down, we definitely have the potential to come to the previous S&R zone (support & resistance) at 5,5 and build a higher low there. I think the most likely scenario is the green line or the lila line : Further tightening inside this range, either to 5,5, or 5, before we see break out to the upside. Less likely is that red scenario, where we would test the bottom support of 5, and break it eventually. Very big picture on Monthly : Even better visible. Huge Equilibrium pattern, since we had broken the 5 Dollar/Lira to the upside, this pattern will be broken guys: Conclusion guys: the market has already spoken, when we went through the roof with 4% after the first election was declared invalid. As long as Turkey/Erdogan does not accept democratic elections, the Lira will keep falling in the long-run against the major pairs USD & EUR. Have a great day/evening global family! ;) Selam, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing trading metrics & online education 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.
by Edgy_