USDTRY
USDTRY - LONG (Gradual)Our risk / reward ratio is 0.28 in the first field and 0.09 in the second field.
There was a close above 5.84.
Long positions can be tried in small lots.
However, losses can be a bit high since the bar cannot be sure without closing, so stoploss should be placed directly at 5.81 or 5.84.
Our sales level for the first area is 6.095.
If the first area breaks down, our sales level is 6.56.
NZDUSD - BUYOANDA:NZDUSD -----------------------------> Details on the chart
Happy weekend,
pipdify
Tamilkumar
USDTRY corrective down to 5.71777 levels... The exchange rate has moved into corrections. This is in line with the previous analysis. The current correction level is 5.71777 usd. Above this level, you can add a short position.
USDTRY Long TradeBuy USDTRY Around 5.8245
Stop below 5.7888
Target 5.9200
With all the ongoing drama we are looking to go long.
USDTRY: Channel Up on 1D. Buy opportunity.The pair is trading within a Channel Up on 1D (RSI = 62.022, MACD = 0.054, Highs/Lows = 0.0493) since the August bottom. It is currently in the process of pulling back for a Higher Low and that will be our opportunity to buy. TP = 6.1000. Notice how when the RSI turns sideways it denotes a Channel pattern, both on the downtrend and uptrend.
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ORBEX: Syria Operations Weaken TRY, Brexit Looks Good Pre-SummitIn today's #marketinsights video recording I analyse #USDTRY and #EURGBP #FXMinors!
Turkish Lira Under Pressure on:
- Risk of sanctions
- Launch of military operations in Syria
- Bank charges for money laundering and fraud
- Breather short-term amid US Retail Sales
Pound Higher on:
- Negotiations optimistic ahead of EU Summit
- BoJo's attempts to get deal through better than May's
- New customs border in the Irish sea; proposal
- EU likely to agree on that deal, then through parliament
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
USD/TRY aiming at 6.00? More weakness ahead for wounded liraOnce again, the lira is poised for weakness.
- The USD/TRY pair triggered an inverse H&S pattern, projecting a profit target at the 6.20 mark, with an intermediary target at 6.00 (round-number + horizontal resistance zone).
- The pair completed a pullback to the broken neckline, validating the inverse H&S pattern.
- A shorter-term horizontal support level lies around the 6.89 level
- The US is likely going to impose new sanctions on Turkey, following the Turkey - Syria conflict (lira negative).
- Wars are expensive, and Turkey's external debt is already near record-highs (lira negative).
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USDTRY possible running flat as tension rises In the Dollar & Turkish Lira pair we could potentially have finished a running flat abc correction (in a running flat the c waves doesn't reach a new high or low point). Its still to early to say whether we have broken out of the structure to the upside but this pair should definitely be monitored, as a new impulsive move to the upside could be in play. Trump already announced he would "destroy" Turky economically if they proceed with their actions in Syria.
XU100 BIST100 Head&Shoulders FormationWe can see the head&Shoulder formation hapenning on Turkish Index 100 (Bist100).
Targets of this formation is;
- 99840 and than 99110 relatively.
Increase in the USD/TRY ratio is approving this formation.
EURNZD - SELLOANDA:EURNZD -----------------------> Details on the chart.
Happy pips,
Pipdify,
Tamilkumar.
USDTRY - Swords are drawn.
I drew the main channel on KST. Must watch carefully.
The upward reaction would be much more severe, but the downward reaction should be evaluated.
If I see anything about it, I'm gonna give url to the new idea under this area.
USDTRY - Promising setup on the pair (longterm play)- Above 200ma
- Break of symmetrical triangle
FX:USDTRY
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
ORBEX: USDTRY - Expecting Minute 3 To Break The 6.00 Barrier?USDTRY could move a tad higher to complete minute wave 3 near 6.1358 before correcting lower.
Minute wave 3 is part of minor 3, which is part of intermediate wave 3. The latter has projected target near 7.25
Look for a valid breakout above minor 1 at 6.0373!
Should prices move below 5.6343 low bears would gain more control? Early invalidation signals near 5.75.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
