USDTRY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Usdtrysignal
USDTRY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USD/TRY: New Highs Achieved as Turkish Lira Problems GrowNew record highs have been made by the USD/TRY in early trading as the Forex pair has climbed above 10.00000. A look at nearly any technical chart shows the Forex pair has been within the grasp of a long-term bullish trend, and this is not likely coming to an end soon. The question for traders is how the momentum of the USD/TRY can be taken advantage of in the midst of this storm which continues to threaten new heights.
Speculators may be able to trade the USD/TRY via their chosen broker, but before they stumble into a speculative winning decision they must consider the costs of the transaction. To accomplish getting into the USD/TRY a trader needs to enter a solid entry level, because the spread in the bid/ ask for the Forex pair may be very wide and deliver unexpected price fills which do not meet expectations. This can create costs which make the USD/TRY difficult to trade and ill-fated.
If that criteria can be met, and before even putting on the trade still, a speculator need to find out what the ‘carrying charge’ for holding the position overnight will be if this is needed. In other words you as the buyer of the USD/TRY will be charged a fee for being allowed to speculate with a large sum of money via leverage, and the costs can be high if you need to hold the position into tomorrow and further.
If a trader has made sure they can get into the USD/TRY with a solid price point and understands all the fees they may encounter - then it is time to allow the Forex pair to trade. Having broken through the important psychological barrier of 10.00000 is no small feat for the USD/TRY and if this current price level is sustained without a violent reversal, it could indicate that upwards momentum will continue in the near term. There is reason to suspect price velocity within the USD/TRY can turn volatile at any time, however, and traders need to be ready to handle the moves with take profit and stop loss orders working.
The USD/TRY is recommended as a wager for Forex traders who have a lot of experience. New speculators should be careful before attempting to trade the pair. Resistance near the 10.10000 mark may seem like a road too far, but if the pair’s upwards momentum continues to be sparked this value seems more likely than support ratios below the 9.80000 level being touched in the near term.
Turkish Lira Short-Term Outlook
Current Resistance: 10.04000
Current Support: 9.95000
High Target: 10.13000
Low Target: 9.87000
The USD/TRY has broken through the 10.00000 ratio and its path higher may not be complete quite yet.
USDTRY Trend Continuation Hi traders
Its been two days without posting. I am back again today there is some action on the charts. Hopefully we turn a profit.
Let us take a look at USDTRY. On the daily chart the trend is a clear bearish trend and I think the pair will continue doing so until next week. The MACD histogram is bearish indication bears are pushing price down.
Short positions at market
Stop loss: 7.1740
Take profit : 6.7057
USDTRY Sets To Complete A-B-C Zigzag PatternUSDTRY made a sharp five-wave impulse decline from 8.58 high. According to Elliot Wave theory, a three-wave correction follows every impulse pattern.
In USDTRY's case, the correction seems to be unfolding as a simple zigzag. We have the wave "a" and wave "b" seem to have completed as a simple zigzag.
If this count is correct, the price should resume higher in wave "c" to complete the zigzag. Target above wave "a" high and upper boundary of the channel is plausible in the days ahead. The red level is the invalidation zone based on the current count.
What's your view on USDTRY? Let me know in the comment.
Thanks for reading!
Veejahbee.
#USDTRY LONG.. We have been observing a horizontal trend for a while in USDTRY.. In the four-hour chart, we see the ascending triangle pattern.. The falling wedge pattern is clearly noticeable in the RSI, and if the pattern works, the upward price movements may harden and the peak point of 7.20 can be tested.. Also; I think the reference values (54) and (45) in RSI are very important in the short term, these values can be considered as an important indicator in terms of price movements.. Moving averages (ma5, ma8 and ma13) and gator are about to return to positive, it seems highly likely that the correction wave will remain short again..
My personal opinion; In the direction of price movements in USDTRY, the impingement will show a sharp upward break after a while and 7.20 peak point will be tested in the near future..
Disclaimer: Not investment advice.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you all the best..
#USDTRY ANALYSIS.. ABOUT THE MARKET CYCLES.. I think it is quite meaningful to analyze #USDTRY within the framework of market cycles rather than classical technical instruments..
From my point of view we are very close to the part where USDTRY will experience sharp increases in the market cycle.. If we approach the daily chart from a wide window, we can easily see that very similar movements are repeated in #USDTRY.. I expressed in the graph the movement I expected to be in the medium term..
In particular, I think that we are entering a period in which the dollar will grow stronger on a global scale and the results of this will be bad for the currencies of developing countries..
Disclaimer: I am not a financial advisor.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you all the best..
USDTRY Hello friends, I wish you all the best.
I see the dollar as the 6.93 critical place.
It is useful to be careful that it can throw 7.04 needles and close below 6.93.
If closing above 6.93 comes, there is a possibility of going up to 7.36.
This analysis is not investment advice.
If my sharing has helped you and has an idea, you can like and support it.