The 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...
The US Dollar spiked significantly against the Turkish Lira late in May as a result of which it surged up to a many-year high of 4.90.
The rate has since edged lower and is now trading in a descending triangle—the upper boundary of this pattern is a downward-sloping trend-line drawn from the aforementioned spike, while support is provided by the 4.45 level. This...
The USD/TRY pair has been mostly affected by the fundamentally economical, damaging reforms of the Turkish government. Moreover, recent events in the Turkish bond market have massively increased volatility.
However, rather incredibly the currency rates sudden decline began in consistency with the long term ascending channel pattern, which represents the surge of...
After reaching a new many-year high against the Turkish Lira three weeks ago, the US Dollar began depreciating in a short-term channel down. This pattern was breached in this session due to the bullish pressure of the most senior pattern near 4.04.
It is likely that the pair still tries to push higher in this session towards the monthly R1 or the aforementioned...
The bullish sentiment has been guiding USD/TRY since mid-February—a move which is confined by an ascending channel. This upward momentum intensified early in April when the US Dollar reversed from the bottom boundary of this pattern.
Meanwhile, the pair reached its highest position in several years near the 4.20 mark on Wednesday. As apparent on the chart, it...
USD/TRY has been trading in channel down for the last three months. The upper boundary of this pattern was tested on January 9. The pair has since slid lower in a newly-formed junior channel.
If nothing extraordinary affects the rate, it is expected to remain within the boundaries of the junior channel until the upward-sloping trend-line located circa 3.75 is...
Weekly uptrend has been broken and upper resistance has been established and tested. Weekly 9 MAV is about to cross below the 18 MAV and perform the perfect bearish cross. I'm all out short on this pair for a while. There not many guarantees in the FX world but this is one of them.
The cross may have touched his top and start descending
A negative pressure accross the USD help the fall.
The fall is supported by a descending dynamic trend line.
A negative long term market pressure (-6.1) confirm the downtrend
A negative short term market pressure (-6.3) confirm that the fall is in act
A really good positive swap for short positions will...
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The US Dollar is one of the many currencies, which are gaining strength against the Turkish Lira. Although the most patterns are similar on the pairs that involve the currency of Turkey, there are minor differences.
In regards to the USD/TRY currency exchange rate the most notable difference is the fact that the pair is a the moment trading in a junior channel...
