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USDTRY

Turkish Lira/ Turkiye Lira in troubleThe USDTRY improved after a massive freefall when the Turkish president announced changes in monetary policies. We have however seen traders be more bullish for the USDTRY although many traders sold the currency pair earlier this month. We have now seen multiple confirmation for a bullish run in 2022 with a breakout of the down trend on the H4 timeframe, a double bottom and we are now waiting to get one last confirmation (a breakout of the resistance cluster. Once we have that breakout, we look to buy the USDTRY aggressively and take profit at 13USDTRY and will wait for a confirmation on either a bullish continuation, a pull back or a market reversal. Please share your thoughts on this analysis, do you feel it will pullback or keep surging?
by Mezzoforte_Privilege
2
USDTRY- 30Dec2021USDTRY- 30Dec2021 On the daily, price bounced back to 20EMA. We could expect some bearish pressure and price pulling back. On the H4 timeframe, price bounced back to 50 & 200 MA. We could expect the price to pull back to around 12.00. It is worth noting that there is an inverse h&s in play on H1, with price target at 14.04. However, we need to wait and see whether price can close above strong resistance at 13.08 on the H4. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
2
USDTRY market speculationAfter the Turkish president Recep Tayyip Erdoğan announced the measures that the Turkish government would take to improve their currency slippage, over $1 billion was sold to trade for the Turkish lira which caused the USDTRY to drop over 20% making the greatest recovery in any currency in over 40 years. Understanding how the forex markets operate, the USDTRY will attempt to stabilize sooner or later, fears that it will drop to 20 USDTRY by the end of the year 2022, investors are hopeful that Turkey will recover. This is my technical analysis in the event that investors hold their positions and stabilize the Turkish lira.
U
by Mezzoforte_Privilege
12
USD/TRY High Volatility, strong sell-offWe said it 30 minutes before this massive short-selling. "it will go up until the Turkish Government decides to react." And they did. At Human traders we provided two selling signals, and we are short this forex pair. Volatility remains high and there are a lot of forex traders closing positions. For those who want to trade this one, we recommend you to stay on the sideline until the correction by that piece of news finishes. Then, we will close our position out and buy USD/TRY again for a long-term scenario with Forward Contracts.
Short
by alvaromroo
5