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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

USDTRY- NEUTRAL - ranging onlyIt's the same story every day. We are ranging and there is no clear indication of what is next. The only thing we can observe, is that we are below the cloud with resistance 13.85 coming sessions. Further convergence line below base line, and for the rest it's a narrow trading band. I feel focus is on down side, and thanks for some comments, and they are right, the cost-of-carry is heavy when LONG USD. So for now, I am neutral not willing to commit, but for those willing too, SELL strategy 13.25-13.65 for move to 11.80 and maybe even 10.50.
by peterbokma
💡Don't miss the great sell opportunity in USDTRYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (13.4582). 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 a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 42. Take Profits: TP1= @ 13.3034 TP2= @ 13.1461 TP3= @ 13.0009 TP4= @ 12.8630 TP5= @ 12.6840 SL: Break Above R2 ❤️ 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 ❤️
Short
by ForecastCity_World
14
💡Don't miss the great sell opportunity in USDTRYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (13.4582). 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 a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 42. Take Profits: TP1= @ 13.3034 TP2= @ 13.1461 TP3= @ 13.0009 TP4= @ 12.8630 TP5= @ 12.6840 SL: Break Above R2 ❤️ 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 ❤️
Short
by ForecastCity
5
USDTRY- NEUTRAl down side biasYes, I know, it feels like a weekly change of direction. The issue really is, there is a clear cap that can be observed even when the DXY moves up dramatically, whilst the USDTRY only seems to increase slightly. The regulators inclusion of 10% of foreign deposits to be converted to TRY before 15 April 2022, and if not, a penalty will apply. Further, it does not add to the reserve requirements, is if indeed correctly understood, a capital restrictive action. The cost-of-carry is expensive no doubt makes being long not that easy. Even my side, I will liquidate, but only minor cost since I use very small leverage for this pair at all times. So not a big issue here. I can understand those trading larger amounts, it to be a paining experience. Very sorry, but now stochastic starting to turn negative, and we have the strong 14.23-14.28 resistance, and our medium-term to long-term objective has not been met yet, as these charts are still very overbought. I am neutral stance now, and for those preferred to hang in their shorts or a fresh SELL position, likely selling current 13.45-13.55 is fine for now and keep stop back to 14.35 (as per some weeks ago idea I had). Objective 11.80 - 10.50.
by peterbokma
4
USDTRY- NEUTRAL but upside bias nowWe have been playing a very narrow range for quite some time now, not being able to either settle higher or lower. This means decisions can be made by the flip of a coin. I personally will not use that method LOL. Any way, we are below the cloud , which normally signals bearish stance. However, the stochastic RSI is positive now, and starts building a case of seeing higher level, but not solid above 14.2300. I have tried short, in these ranges, and has had no fruitful outcome and also because I had no technical side to support otherwise. Today, I feel we may see upside, even though am neutral. So my strategy is dependent to the individual decision, mine being, BUY current 13.45-13.55 for a break of 14.23 > 15.50-16.00. The profit level maybe first 15.40 for now and stop loss 11.50.
by peterbokma
USDTRY-NEUTRAL with slightly down side biasWe are still ranging with no major movements at all. This is always suspect, because we cannot be sure which way it will go. Basing on the MACD we are still have downside bias (as a lagging indicator). The stochastic is positive (not shown), and we are well protected resistances at 13.90-14.23-14.29 for now. The Donchian channel is closing in as well. Monday or Tuesday we will be below the cloud if no change in direction and resistance is 14.23 once again. I feel still feel ok with short at 13.25-13.75 for a move to 11.80 > 10.05. A break above 14.30 would mean we may see 15.50-16.00 range, but these will be long-term selling levels. I am not inclined to buy right now because of the fact that the monthly chart is way overbought still.
Short
by peterbokma