Turkish Lira USDTRY | Watch Price Level 8.96562USDTRY. Wait and See How The Turkish Lira Responds To 8.96562 Price Level.
USDTRY
TURKISH LIRATRY has been weakening against USD for a long time.
Last week, Turkish Central Bank slashed its key interest rate to 18%, and the inflation in the country is more than 19%.
From USDTRY log chart we can see the clear uptrend and the price movement is tightening forming a rising wedge. The ratio is climbing but with lower and lower momentum. RSI is also indicating to divergences.
After breaking down from the pattern, the next support areas are marked in red zones. Also, the green support line that has been keeping the price up since 2014 is indicated.
Target 7.638Following weekly chart.
RSi bounced from 60', this is clear short signal for me till 7.93 & and 7.638
Following 7.85 for SL
USDTRY - TRY will go through some hard days!-Tapering is coming soon, dollar will gain value and currently one of the weakest currencies that will drop from these news is TRY.
-We expect USDTRY to hit 8.90000 in short-term by the december.
CB October CB cuts the rates 100bp despite of higher inflation. It was expected to happen in October session, however Erdogan gets what Erdogan wants a month earlier. That might takes it above 9 sooner than we guess.
Welcome to another debt crisis in economic history 5!Conjunctural sum. Nothing has changed.
Tradingview wants me to write more about it, unnecessary.
USDTRY TECHNICAL ANALYSIS 23092021How to Calculate Andrews' Pitchfork
Andrews' Pitchfork can be easily applied to price charts without a specialized drawing tool.
Point 1: starting point of uptrend or downtrend.
Points 2 and 3: reaction high and reaction low in the uptrend or downtrend.
Point 1 = starting point of median trend line.
Distance between Points 2 and 3 = channel width.
Draw and extend a trend line from Point 1 through the midpoint of Points 2 and 3.
Draw and extend trend lines from Points 2 and 3 parallel with the median trend line.
Change Pitchfork slope by changing Point 1.
from investopedia
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USDTRY Descending Triangle BreakoutI see possible short term gains on USTRY pair, in my opinion it can cross 9.0 mark this year easily.
From technical point of view, it broke Descending Triangle Pattern and has to continue falling further up to 9.0 and above. We have a long range Ascending Wedge Pattern that has been formed since 2018, so it can retrace a bit after hitting upper green line.
On RSI we can also see breakout from downtrend, which is also a good indicator that price can go up to 9.0 and above.
USD/TRY about to fallHi, Price is ready to drop after breaking the ascending trendline...in H4 TF it looks like we have a double top too.
Use proper risk management!
💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.3133).
. 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 an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 75.
Take Profits:
TP1= @ 8.4898
TP2= @ 8.5521
TP3= @ 8.6602
TP4= @ 8.7464
TP5= @ 8.8414
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.3133).
. 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 an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 75.
Take Profits:
TP1= @ 8.4898
TP2= @ 8.5521
TP3= @ 8.6602
TP4= @ 8.7464
TP5= @ 8.8414
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 / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
price approaches the resistance range of 8.42 in the short term.After breaking the Kijonsen base-line and reaching Kijonsen-103, by breaking this line which is displayed in red. I also expect to cross the Ichimko cloud in the short term to reach the resistance level of 8.42 to 8.43.
Waiting for reversal signal on strong supportWaiting for reversal signal. This was a strong support for sereval times.
USDTRY LONG!!Beautiful Chart.
Please note that by tradition a descending triangle is bearish. Wrong, the context (point in chart) should never be overlooked. In that, if it's at a top it should be traded with extreme prejudice for going short and at bottom of a trend the opposite . Furthermore, even at bottom sometimes they fail.
Now this chart is showing strength with the quad bottom setup having bounced off this support area 3 other times this should be four.. Please see candle stick prediction (hot pink)
BNB_USDT,Long TermWith support in the middle of the canal, it can be on the canal ceiling until the end of September. That means the price is $ 970 to $ 1,000.
USDTRY, BUYA good week to buy USDTRY. As the tendency shows Dollar index has started again to rise, the result of this Turkish lira is going to cheapen.
USDTRY 4H AnalysisHi,
Wait while the price breakout the resistant line
This is my simple idea for USDTRY 4H time frame
I hope it is useful :)
Note 1 : It may take one or 2 weeks
Note 2 : DON'T FORGOT, STOPLOSS IS YOUR FRIEND :)
Best regards :)
#USDT No.24 (related to No.23)Hello friends
As I mentioned in previous analysis, USDT fell roughly down after losing its support area (specified on the old chart) and now is trying to keep itself over the level 4.0.
I suppose, it could reach the level around 3.77-373 and then we might have a upward movement in the Index ( correction in whole the market )
This is my idea and could be totally wrong
Let's leave a comment below this chart to share our ideas for catching better results
