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USDTRY

USDTRYon monthly frame with Fibonacci level we will find that 13.01 represent strong resistance , last two month the government let the currency fail without any intervene , am sure the Turkish national bank will start offer new government bonds to contain the situation , its a good time in my opinion to short this pair while retail start getting heavy long position , this is risky but am willing to short it ,especially that i know the government control the national bank and its gonna try to put the crisis into bed before any further political damage with election in sight
Short
by Adel_Tunisi
Aesthetic Analysis: Highest Point of the YearUDTRY had made a great jump in the past months, but if aesthetics are to be believe, the power of symmetry lies in a slight pull back before the end of the year. That's mainly due to being in the north edge of a long running logarithmic channel. If this is to be broken, symmetry would demand new balance points which would provide stability to the price above 14. This has a very low probability to happen within 40 days, Therefore, even though all analysts and technical indicators are hinting at a Strong Buy, it looks to me like a Strong Sell for the coming weeks.
Short
by MontyMacht
USD/TRY: New Highs Achieved as Turkish Lira Problems GrowNew record highs have been made by the USD/TRY in early trading as the Forex pair has climbed above 10.00000. A look at nearly any technical chart shows the Forex pair has been within the grasp of a long-term bullish trend, and this is not likely coming to an end soon. The question for traders is how the momentum of the USD/TRY can be taken advantage of in the midst of this storm which continues to threaten new heights. Speculators may be able to trade the USD/TRY via their chosen broker, but before they stumble into a speculative winning decision they must consider the costs of the transaction. To accomplish getting into the USD/TRY a trader needs to enter a solid entry level, because the spread in the bid/ ask for the Forex pair may be very wide and deliver unexpected price fills which do not meet expectations. This can create costs which make the USD/TRY difficult to trade and ill-fated. If that criteria can be met, and before even putting on the trade still, a speculator need to find out what the ‘carrying charge’ for holding the position overnight will be if this is needed. In other words you as the buyer of the USD/TRY will be charged a fee for being allowed to speculate with a large sum of money via leverage, and the costs can be high if you need to hold the position into tomorrow and further. If a trader has made sure they can get into the USD/TRY with a solid price point and understands all the fees they may encounter - then it is time to allow the Forex pair to trade. Having broken through the important psychological barrier of 10.00000 is no small feat for the USD/TRY and if this current price level is sustained without a violent reversal, it could indicate that upwards momentum will continue in the near term. There is reason to suspect price velocity within the USD/TRY can turn volatile at any time, however, and traders need to be ready to handle the moves with take profit and stop loss orders working. The USD/TRY is recommended as a wager for Forex traders who have a lot of experience. New speculators should be careful before attempting to trade the pair. Resistance near the 10.10000 mark may seem like a road too far, but if the pair’s upwards momentum continues to be sparked this value seems more likely than support ratios below the 9.80000 level being touched in the near term. Turkish Lira Short-Term Outlook Current Resistance: 10.04000 Current Support: 9.95000 High Target: 10.13000 Low Target: 9.87000 The USD/TRY has broken through the 10.00000 ratio and its path higher may not be complete quite yet.
Long
by SmoothJB
USDTRY- 16Nov2021USDTRY- 16Nov2021 On the monthly time frame , we could expect 3 white soldier candles forming. Hence a bullish momentum is expected for the rest of Nov21. We could expect its bullish trend to continue to at least strong 1st Resistance at 10.67160 before facing any bearish pressure. On the H4 timeframe, we could expect USDTRY to continue its bullish momentum to 1st Resistance at 10.26793. This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS