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Turkishlira

💡 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 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_World
7
💡 Don't miss the buying opportunity in USDTRYShort-Term Forecast Trading suggestion: . The price is trying to break downtrend #1 for the second time. It will be a buying opportunity if downtrend #1 is broken. . There was a possibility of temporary retracement to the buy zone when the price reached the suggested resistance line (7.5150) and downtrend #2. . Traders can set orders based on Price Action in the buy zone and expect to reach short-term targets. Technical analysis: . USDTRY is in a downtrend. A divergence is formed, and the beginning of an uptrend is expected. .The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 51. Take Profits: TP1= @ 7.7350 TP2= @ 8.0303 TP3= @ 8.3652 TP4= @ 8.5690 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment; let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
25
Short on Bitcoin, plus updated on EURTRY and USDMXN longs (DEMO)Hello traders, thanks for watching/liking/commenting! Today I am looking at my BTC/USD short (entered on Tuesday and in the money) and also giving an updated on my EUR/TRY long (in the money) and USD/MXN (in drawdown but improving). Key video points: - discuss my profit targets on the three trades; - discuss the CC (correlation coefficient) between Bitcoin and USD/MXN; - discuss price/RSI divergence in USD/MXN. Take care, happy trading and leave comments (if you have any). Cheers Francesco
by Forexistential
4
Turkish Lira sells the rumour of a rate hike: buy the news?Hello traders. I have been in a bit of a pickle this month: between elections in the US and a stalling EUR/USD, my demo took a bit of a hit (more than I care to tell) and one big mistake was to go long SP500 on the NYSE open the very day that a Covid19 vaccine was announced... There was optimism on Wall Street and I was looking for some direction in anything that had candlesticks to its name... I got caught out in a false move AND the platform froze for several hours, before I could work out stops etc. I lost 75k of paper money, which really hurt my pride and my record. I have gone about reconstructing my account and really giving myself a big talk about never trusting the media on 'optimism' stories when it comes to my own trading. Sitting on your hands for several weeks is indeed what you sometimes have to do, but it does become difficult if that has not been necessary for some time. I have looked at Bitcoin, again ignoring media stories but actually genuinely trying to get in on the latest swing high, though now it is showing RSI divergence on the daily and looking like it is struggling, thus I am staying out of that one for now. My other two trades are: USD/MXN long, which looks to be worth holding on to for a wide target, as it is quite oversold and testing former resistance (now support) from 2018 and 2019, around the 20,000-20,100 mark; the second trade is EUR/TRY long, which takes me to the topic of this video. In the rate hike of today, what did the Turkish central bank hope to achieve? Stem inflation and rescue the ongoing currency crisis. Erdogan is somehow changing his tune with the newly appointed governor, probably tired of watching his beloved Lira falling by more than 30 percent this year alone (on top of more losses before that) and forcing a rate hold on the central bank. My contention is that the last few days we say a 10,000+ pip sell-off that was on the anticipation of the hike, whereas action today was quite muted (although still bearish) and that seems to suggest that Lira buying is done - buy the rumour, sell the news - thus it is back to business as before, selling Lira (and watching the decade-old USD/TRY uptrend continue). I go into more detail, so please look at my volume analysis through MSCI iShares Turkey ETF to get a sense of how I am looking at this long trade as a goer. Thanks for watching! See you in my next Francesco (FreeFX)
Long
by Forexistential
2
New Turkish Central Bank Governor has come in guns blazingPedal to the metal It looks like the new Governor to the Turkish Central Bank has put his foot on the gas to stop the Turkish Lira from falling. Let's hope he doesn't run out of gas any time soon. I hope so, but looking at the technical picture all he has done this morning is push the rate of the EURTRY back to previous support and back to the mean of the up trend. Selling Gold? How much more Gold will they need to sell to change the trend? And is there any amount of Gold that can change the trend at all. Serious stuff It would be interesting to watch, if it was not for the 80 million Turkish livelihoods that depend on the outcome. This is serious stuff. Best case scenario will be that the trend will turn at the cost of selling some Gold reserves. Worst case scenario is that the trend will continue and that Gold reserves will be depleted. This could lead to massive inflation and poverty. I sincerly hope it doesn't come that far.
by dave25981155
7
USDTRY Gains Another 1,390 Pips!The Turkish Lira continues to weaken which we can see in this chart where the US Dollar is displaying dominance over the Lira. Since the last post, price has risen by 1,390 pips which is 1.8%. Based on the weekly timeframe, price has not yet formed a clean pullback so we may be due one. But if the trend is strong, then we may not see a pullback for some time. The consolidation resistance was formed around the 7.000 round number, so the next round number at 8.000 may create some difficulty for price to make it past. When the USDTRY is in a trend, it does tend to pick up speed so we shouldn’t be surprised if we experience a surge in price. This happened back in 2018 when price was in an uptrend then we saw a move of 26% in the month of August 2018 alone. We can’t guarantee what will happen next so we just have to continue on as normal and look to maximise profits as much as we can, so long as this trend continues to run. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
10