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USDTRY

Analysis of USDTRY 8.10.2019The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 5.8500 • Take Profit Level: 5.9000 (500 pips) If the price rebound from resistance level, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Short Position • Entry Level: Short Position 5.7900 • Take Profit Level: 5.7600 (300 pips) USDJPY A possible short position in the breakdown of the level 107.00 GOLD A possible long position at the breakout of the level 1505.00 USDCHF A possible short position in the breakdown of the level 0.9910 EURUSD A possible long position at the breakout of the level 1.1000
by PaxForex
USD/TRY - Possible Breakout From A Descending Triangle*** DISCLAIMER *** Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. **************************** The price seems to have broken the descending triangle pattern, but I suggest to wait a possible retracement (maybe even in 1H TF) just to exclude the possibility of a false breakout. On The Chart I tracked 3 possibility level of Take Profit.
Long
by Logical_Knight
USDTRY: Monthly triangle forming, fundamentals favor upside$USDTRY is one pair that is likely to trend up over the long term, but it's currently stuck in a huge monthly triangle. Recent action is interesting since price sits at a confluence of 'inside trendlines', speed fan 75% retracement level and linear regression channel 2nd standard deviation, as well as retracing to the mid point of a recent 'Range Expansion' up day two bars back. If buyers manage to keep prices over 5.6454, then it would be a sign of strength, since then the daily could start trending once again. Problem is the swap costs in this pair makes it hard to trade into big trends with leverage, so you would be better off not trading it, but if you live in Turkey you might look into moving funds to USD if you earn income in TRY, unless support breaks down here, then you can probably hold off from doing so for the time being. It's a similar situation with the Argentinian currency, fundamentals of the country make the currency lose value over time...in a big way, because of the reckless financing of insane spending via money printing. A big problem in countries with corrupt governments like ours. Best of luck, Ivan Labrie.
Long
by IvanLabrie