Analysis of EURTRY 17.10.2019The 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 6.5500
• Take Profit Level: 6.0000 (500 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 6.4800
• Take Profit Level: 6.4600 (200 pips)
USDJPY
A possible long position at the breakout of the level 108.90
GOLD
A possible short position in the breakdown of the level 1476.00
USDCHF
A possible long position at the breakout of the level 0.9910
EURUSD
A possible long position at the breakout of the level 1.1095
EURTRY trade ideas
EURTRY Ausbruch verliert etwas an DynamikNach dem Ausbruch aus dem Abwärtsdreieck pendelt der Kurs leider seit mehreren Tagen um die 6.50 herum.
Die fehlende Dynamik lässt meine "Conviction" etwas schmelzen.
Dennoch bleibt bis auf weiteres das Long Szenario weiter aktuell.
Die politische Lage ist weiter sehr undurchsichtig. So unangenehm es klingt aber der erste Impuls, dass der angezettelte Krieg schlecht für Wirtschaft und Währung ist, könnte sich als übertrieben herausstellen und gegebenenfalls sogar ins Gegenteil umschlagen.
Bullishes Szenario definitv beendet bei Kursen um 6.20
EURTRY breakout happenedRoughly one month ago I pondered about a breakout of the turkish lira.
Now it seems this scenario might happen.
Breakout of downward trending line is clearly visible. Move is probably backed by geopolitical tensions directly involving Turkey and economic threats being issued by the US against the country.
In the most optimistic case, we could see prices of 8 and above again.
Timeframe 3 months.
If price dips again under 6.20, the scenario clearly didn't play out.
This is also where I would put my stop
Operation Peace Spring Will Be DisapproovedWhen I look at chart technically, I would gladly short. But there are strong fundaments that appear not to be fully included in the graph. UN's Security Council is meeting today and as far as I am aware, neither member agrees with Turkey's strike against Kurds. Russia and China are probably indifferent, rest of the members is high likely to stand against Turkey. What are possible scenerios?
If Erdogan stops the assaults, it will be a fine embarrassment in front of public. If he continues, then sanctions are an only probable option. Technically speaking, the direction should, lira should go down after it bounces off a trend line and resistance which happens to be in the low-volume area. Given fundamentals that have already caused a move that would probably come either way, I think we will have at least a minimum of a false breakout towards point of control. I expect a reaction there. If it is an explosive move, I will just move stop loss and wait for local high to be reached again. There, it literally must react, unless Turkey completely sinks under the weight of sanctions.
EUR/TRY - Bullish Setup in a yearly symmetrical triangleFX:EURTRY
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The price did a false breakout just yesterday and then re-entered in the symmetrical pattern (11 months old) with a long 4H candlestick.
In my opinion the plan is to wait a retracement on the lower base of the triangle and wait for an engulfing or pin bar pattern, just to have a confirmation of the bullish pressure.
Long till price supported by red ascending trendlinePrice is still trading above minor ascending trendline , we are near breakout levels and long trades look more favourable , long on break above trendline on retest or from bottom of range near red trendline , uptrend valid till price is supported ...
EUR/TRY breakout imminent?After doubling from 4 to 8 in 12 months from mid 2017 to mid 2018, the turkish lira rested for a while.
Currently it looks pretty "wedgy" to me, as I indicated with the trend lines.
Since the country is still politically rather "shaky" there might be a breakout to the upside imminent with first target price around 8.
Rate decisions effects on EURTRYAfter CBRT's rate decision parity start to fall. After ECB's decision, we tested new dips. But the last day of this week we are still in the same pattern. As long as we stay below the 6.35 level price movement will like to see new bottoms. 6.25 and 6.20 levels will be important in the case of continuation of the downside walk.