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USD-TRY

USD/TRY 1H Chart: Pair is strongly overboughtThe last four weeks have been profitable for USD/TRY bulls, as the US Dollar has appreciated by 20% against the Turkish Lira. This upside momentum intensified mid-July when the 55-hour SMA provided enough support to guide the pair towards a new peak at 5.40. Given that this level coincides with the upper boundary of three ascending channels, it seems that the Greenback might be ready to give up its strong position, at least in the short term. In addition, technical indicators are located in the strongly overbought territory which should soon make this up-move unsustainable. Thus, it is expected that the pair’s direction during the following two weeks would be south down to the 55– and 100-period (4H) SMAs and the medium-term channel at 5.05.
Short
by UnknownUnicorn890690
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
USD/TRY 1H Chart: Soon breakout from triangleThe 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 triangle has reached its maturity; thus a breakout and a subsequent movement in this direction should soon follow. Longer-term technical indicators are in favour of a fall within the following month, at least. During this time, the downside potential is apparent until the 100-day SMA and the monthly S1 at 4.10. In case of an upside breakout, the Greenback should target the yearly-high at 4.90. It should be noted that the Turkish Lira is dependent heavily on fundamental aspects; thus, they should also be taken into account when designing a trading strategy.
by UnknownUnicorn890690
4
USD/TRY 4H Chart: Review after turbulenceThe 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 the recent months. In accordance with the pattern, the US Dollar should decline against the Lira until it reaches the support of the channel. It could occur in any way, as the support can be touched by trading downwards, sideways or even going higher.
Long
by UnknownUnicorn890690
USD/TRY 1H Chart: Short-term appreciation expectedAfter 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 high at 4.14 and 4.1820, respectively. Additional bullish signals are provided by the fact that the pair surpassed the strong resistance cluster of the 55-, 100– and 200-hour SMAs and the weekly PP today. Meanwhile, technical indicators on the daily time-frame suggest that some medium-term decline could be under way after this short-term surge.
by UnknownUnicorn890690
USD/TRY 1H Chart: Rate edges lower from yearly highThe 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 likewise formed a pattern similar to head-and-shoulders. By mid-today, the US Dollar had fallen back down to the weekly R1 and the 100-hour SMA circa 4.09. It is likely that the rate declines even lower in line with the senior channel and therefore reaches its bottom line and the 200-hour SMA at 4.04 early next week. The same bearish momentum could push the pair considerably lower in the medium term away from the aforementioned yearly high.
by UnknownUnicorn890690
USD/TRY 1H Chart: Junior channel expected to hold firmUSD/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 reached within the following two weeks. In the short-term, however, the Greenback is likely to appreciate against the Lira, as suggested by oversold technical indicators. The pair could reverse from the weekly S1 at 3.7625 and move towards the 55-, 100– and 200-hour SMAs located in the 3.7933/3.8035 area. Subsequently, a move towards the aforementioned trend-line should follow. In case the bullish sentiment overwhelms the market, thus resulting in an upside breakout of the junior channel, gains could be capped at the 2018 high of 3.8363.
by UnknownUnicorn890690
Turkish counterattackThe 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 help the down trend On my twitter profile twitter.com you can find everyday the market pressure value for all crosses. Have a nice trading !
Short
by MarketMiracleAdvisor
USDTRY OPPUTUNITY WITHIN RANGETrading method: RSADVANTAGE Stage 5, accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends suited for swing trading. This system is made of custom adaptive volume indicators and Oscillators that properly detect trends very early and provides exit signals at dynamic S/R zones once the trend has ended. // Average yearly pips gained is 40k per pair on D1 charts alone. USDTRY To open long positions for usdtry , it is required: In this situation our system indicators to confirm trade entry confirmation for movement to the upside and but if the market trend continues to range this signal will become invalid and we can see this pair fall to 3.76800. Market execution for entry, I will confirm signal once the conditions have been met. Risk Description: Once signal is confirmed 668 pips will be up for grab with small risk SL at swing low. Profit expectations: 1-4 day trade length expected before hitting profit target I will post exit strategy when signal receives a exit signal.
Long
by UnknownUnicorn1372988
1
USD/TRY 4H Chart: Short term decline in progressThe 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 down pattern. The pattern is set to guide the currency pair down to the support of the most dominant pattern near the 3.90 mark. Afterwards a continuation of the long term surge can be expected.
Long
by UnknownUnicorn890690
4