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TURKISH LIRA / U.S. DOLLAR

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TRYUSD trade ideas

USDTRY Pushes New Record High but Uncertain on Follow ThroughWhile there was heavy interest in the meme-stocks this past session, the emerging market FX space generated remarkable volatility on its own. Some of the most liquid BRICS member currencies were posting impressive rallies - like the Brazilian Real (USDBRL) and South African Rand (USDZAR). However not all EM was outpacing the Greenback. The Turkish Lira was one such currency under its own pressure. After reports that the Turkish President spoke to the central bank governor about rates being too high Wednesday morning, USDTRY surged to a fresh record high, but the candle ultimately ends with a large upper wick. Have we already priced in the coming rate cuts? Maybe in the short-term before the central bank officially cuts in a few weeks, but I'm dubious of longer term. Our article on Erdogan's remarks: www.dailyfx.com
by JohnKicklighter
2
USDTRY ASCENDING TRIANGLEHello Traders, Today, with the outperformed growth data, Turkish Lira gained around 1% made a successful retest to the breakout zone of formed ascending triangle. I expect that the currency will gain momentum to finalize the movement through the target of the continuation pattern. My target area for the currency is $8.95-$9.00. 8.95 is a nice level to take your profits and watch closely to continue, close or may be add new positions considering the facts. Thank you and stay tuned for more strategies! Please leave a like and comment what you think. Wish you have a well start of the week and trade safely
Long
by gorkemaydogan
Note to My Self:USDTRY(Reloaded)It has not completed its move yet, but I expect a rise and then a fall. If the decline occurs without the rise, I don't think it will be permanent. Progressive to the probability of retesting above the trend by trading incrementally, and the likelihood of an upward acceleration up to $ 9. I plan to take profit in each region and collect it again at support points. It is not investment advice, make your investments together with banks and intermediary institutions and experts in the field. Note: The edited version has been reloaded because it violates the community rules.
Short
by CoinSTOmoon
1
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (8.4295). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 55. Take Profits: TP1= @ 8.4585 TP2= @ 8.4850 TP3= @ 8.5110 TP4= @ 8.5510 TP5= @ 8.5855 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_World
14
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (8.4295). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 55. Take Profits: TP1= @ 8.4585 TP2= @ 8.4850 TP3= @ 8.5110 TP4= @ 8.5510 TP5= @ 8.5855 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
7