EURTRY trade ideas
EUR/TRY MULTI-TIMEFRAME ANALYSIS Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
The Turkish lira hits its two-year lows against the euroThe Turkish lira hits its two-year lows against the euro and has also crumbled against other currencies. Bearish EURTRY traders have faced levels last seen on the height of the 2018 currency crisis in trading sessions. The main weakness of the lira can be traced to the concerns about the impact of the virus in Turkey. The pandemic has taken a deep chunk out of the Turkish government budget and recent data showed that corporate deals in the country have faltered last month. In just the span of less than two years, the Turkish economy has faced two recession, placing the Turkish lira in a very tough predicament. The pair has a highly bullish tone considering that the 50-day moving average has left the 200-day moving average in the dust. Bullish investors are expected to hold on to the momentum despite the vulnerability of the single currency. Over the past week, news about the virus in Europe has started to show improvements, mainly in Italy and Spain.
EUR/TRY Possible Sell OpportunityWatch Daily and H4 for rejection. Could be in order accumulation for fall. Take profit area would offer 800 pips. Study along with previous idea linked below. This is not a signal but a study.
bullish hidden divergencei was waiting the last candle to be sure it would be green , that green candle gave the credibility to that divergence.
stochastic RSI is showing oversold that supports the hidden divergence .
our goal is 7.4000
the same idea we can apply it to USDTRY and our goal will be 6.82
EUR/TRY Possible Long OpportunityWe enjoyed selling yesterday, and price eventually closed at last month's high, with a re-test to last month's high. Could this be a re-test for a continuation up? Remember overall we are still in a buy trend and can enjoy short opportunities; however until price breaches trendline it may not be wise to open short positions. Trade with caution and do not get caught in a bear trap.
EURTRY long until it reaches to the barrier of 1.618 fibonacciUnless the support 7.17 is not broken and price stays underneath that level for 3 days in a row I would expect the currency to reach 7.5X levels and the graph should be updated accordingly.
shortI did short from 7.3200 and achieved target 7.2000.
now ,
short for target 7.1000 and second target 7.0500.
eurtry possible movejust it may go to touch the upper tl based on daily tf...lets see how it play out
EURTRY | 1-2 WEEKS FORECAST There are opportunities for trade. Not the best, but better than nothing.
OVERVIEW IS HERE
Potential long on break above previous high..price supported by ascending trendline.. potential long on break above current resistance ,
In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your trading plan .
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The Turkish lira is struggling to defend itself against the euroThe Turkish lira is struggling to defend itself against the euro but in recent sessions, its seen slightly rebounding. The reason for the rebound was the recently rolled out stimulus measures to cushion the blow of COVID-19 to the Turkish economy. The number of coronavirus cases in Turkey recently saw a big spike, recording more than 500 new cases just yesterday. The massive surges raise the number of infections to about 2,433 as of writing. While the death toll in Turkey reaches 59. Turkish Health Minister Fahrenttin Koca said that among the 5,000 plus tests that were conducted, it was found that about 561 people were infected by the deadly virus. While in Europe, leaders from the region ditches austerity to help fight the pandemic with full force in terms of cash. A French official said that the countries in Europe are failing to communicate through the response measures, this leaves space for vulnerability for the single currency.
