USDTRY
Bullish pennant formation on USD/TRYDue to Turkish holiday TRY will be traded weakly until Thursday. At these times, values can be more volatile.
We can clearly see the bullish pennant formation on USD/TRY. Tomorrow we have to carefully watch the value. If it will break the pennants resistance, value may go up to 5,62-5,65 channel. We can see that there will be a steep movement from the narrowed bollinger bands.
Parabolic SAR shows the downturn and also moving average does not support the upmove so that we can also expect a steep down move. In case of a down break reaction, we have to watch 5,53 support line.
Good luck all.
USDTRY LongAdmittedly, I've not made a good call on the Lira so far this year. Fundamentally the Lira is way overvalued at ~5.60, it's probably overvalued even at $6 but the CBRT has found clever ways to prop up the currency through swaps (and a billion or so in borrowed Yuan).
all that said, the algo is signalling long here, so I'll be taking a smaller position to balance risk in the event Trump decides to intervene in the dollar directly since the DXY is back over 98 (again) so a Trump tweet seems likely.
USDTRY 14.08.2019USDTRY intraday trend channel, support and resistance levels.
Check the volume spikes for breakouts and reversals. FX:USDTRY
USD/TRY: Important S&R zoneHello dear USD/TRY traders, merhaba arkadaslar! ;)
The USD/TRY has arrived at the previous important S&R zone of 5.45-5.50. We should see a bounce going on from here, even if it's only short term. If not, previous lows at 5.15 will be activated.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Selamlar,
Deniz from Edgy
USDTRY I am mainly equity guy, but from time to time a do trade FX, and there I have my favourites such TRY, NZD, AUD.
Right now, my position is closed with +S/L, but I will take a closer look today to find the entrance for a new one. For me, MA200 remains strong resistance area , and this new trade will most likely have a T/P near Fibonacci 0.5 lvl . I will wait to RSI to touch his 40 lvl one more time and to price to get closer to MA200
USDTRY, BUY signal now!The price is near border of the Range Channel.
It can bounce and rise up.
Potential profit will be in 3 times bigger than risk.
USDTRY approaching key support levelAs the Lira strengthens to 4-month highs, the bulls may come back in depending on how sensitive this level is.
6.39 TargetLast stop for usdtry,
Today or tomorrow, waiting for 5.48 first, then 5.45-5.44, then target is 6.39
100/16,5 = 6,06 short term target from try/usd chart trend.we use try/usd graph. do not use usd/try. Now 100/17,6. and it s gonna be 100/16,5 =6,06 of short term target from try/usd chart trend. ..QSupreme..
USDTRY | Textbook SellSuch a nice sell 4-8 hours ago. Missed it unfortunately but you can still get in, it is a bit more risky though.
You also get paid overnight swap for short positions on most brokers.
USDTRY - BTCUSD HOW SIMILAR THOSE TWO?WXY correction target is -0.236 if both works properly. this is not a financial advice.
USD/TRY: Still In Channel! But Non-LinearHello dear Turkish Lira traders, merhaba arkadaslar!
The last time we were looking at this analysis:
=> We can see that the bulls couldn't break the horizontal resistance at 5.78, so we broke the bottom at 5.67 and since then we're still in a downtrend, albeit that the market doesn't respect it much with linear trendlines.
=> Non-linear moves happen very often in charts, especiall after expontential moves: it is something that I'm personally very interested in observing.
Have a look at this example from the stock world that I just analyzed:
Conclusion: We're still trending downward, and sometime we will see a breakout coming to the upside: When this happens, we will further tighten, as you can seee best on the Weekly chart:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Selamlar, Deniz from Edgy
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
USDTRY long setup Dolar / TL1ST ENTRY- 5.6020
STOP - 5.5549
Optional PT: 5.6495
PT:5.7395
Ahead of CB meeting in 2 days, market is already priced some easing from the Bank. Consensus is about 300 basis points. This won`t shake the market, more easing will send the pair down, i will buy into the weakness.
XU100, Profit Taking Takes Investors to USDThe rhetoric in XU100 is irrespective of valuations in the last week or so.
Turkish investors have been taking profits and allocating towards USD. This is totally a psychological issue, locals see the USDTRL as an actual investment vehicle, rather than a currency pair. This week the USDTRL pair saw lows of 5.50, this insinuated a sell signal for stock (along with some savings accounts).
Currently, locals prefer a long USDTRL position over holding common stock.
Hence there could be a downtrend in XU100 in th short-term due to this phenomenon.
USD/TRY Take a Step Back - Higher Timeframe AnalysisThis post is for educational purposes only. Trade at your own risk. Please refer to my previous analysis today (below). This gives a high level overview of long term what we can see happen in the market with this pair. We have a descending wedge forming, alongside trendline confluence, and a bounce off the 61.8 fib level. Trade at your own risk. As this is high level outlook there is a lot of price action that goes on in the lower time frame. Most retail traders have to drill into lower time frame to capture pips on short price action. (see previous trade idea below)
