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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

USDTRY - D-DAY ?Today will be quite a day, either sharply up or down. My personal view, remains medium-term SELL. The FIB time cycles on weekly chart suggests we are nearing the end of the cycle, and further we are trying to move beyond GANN resistance, but am still worried about the stellar steepness of the increase. I have no issue seeing long-term 15-16-17 handles, but first we need to move back towards 10.25-11.25 to relieve the pressures. Today is D-Day as we may see either rate cuts or not. The question is also how much. this should be far build-in the market and therefore the chance of a sharp decline is far greater than not. It is a personal view point and choice. needless to say, good luck for today.
Short
by peterbokma
46
USDTRY - SELL strategyIt seems comments coming my way to stop writing about USDTRY. Personally I can't see why I should. I have been working too long in this market and this way i can help others. In the end of the day, it's each ones decision to agree or not. For me not an issue. It is clear Turkey's monetary policy is quite different approach, and that has spooked the market. Tomorrow expectation of more rate cuts, keeps it up high. The question is, is the market LONG USDTRY or SHORT? I guess very LONG and besides, the reason we are here is just because of the possible further rate cuts. Thee are some banks in USA betting on even a much weaker Turkish Lia for 2022 and 2023. We all can read that no doubt. Now back to the drawing board. Short-term and medium and long term, we are in uncharted territory, and I have seen it before during Italian Lira crisis. USDTRY RSI is near 95.0 weekly chart... monthly near 89.0 and daily 83.0 again. We will correct back to 11.25 > 10.25. PLEASE DO NOT GO LONG... yes it can spike... but a rocket rising that sharp will fall sharp as well... anyway... let us see tomorrow... best regards all and good luck on this one.
Short
by peterbokma
8
USDTRY- LARGE DECLINE EXPECTED - PART 2Someone mentioned that interest rates in Turkey will decline to 5% by Thursday. I think that seems something out of this world. Anyway, looking at FIB circle, it is clear we have been in stellar mode, or its similar to viewing SpaceEx rocket material. No honestly, i prefer to be view this market as it is. Market is VERY LONG USDTY and any disappointment in rates (not reducing) may be the catalyst for the large decline. I keep the same strategy SELL current levels 14.25 and upwards and reduce 12.50 and resell on move back 13.50 and then go for the ultimate buy-back 10.25-10.75. in the meantime good luck for Thursday.
Short
by peterbokma
10
Massive !!!Massive volatility breakout according to Bollinger a bulb is a sign of a end of move or reversal imo here idk they are forcing demand in the area which I think they will buy again at a cheaper price I don't see the currency doing much more would I trade against the banks nor to I find buying a market so high flavorful even if it's being manipulated cus that means I'll have to consistently monitor it so I wouldn't trade this pair long term rn therefore there's no reason to traded it short term there are cheaper spread pairs
by Donajor8
USDTRY - CONTINUE SELL The candle stick patterns provide clues on the state of the market. Hammer (inverted) top (cross) plus evening star, and RSI 93.0 for the weekly does not bode well for the longs. Sad to say, I remain steadfast in the belief that we will in fact have a collapse downwards. The GANN resistance 14.62 and 14.30 were attracted yesterday, and no doubt placed fears into then mind of people. Run away trucks are never fun to watch and I fully get it. However, regardless the circumstances, the correction will set in. Do note, that when it comes to this currency pair, we require patience and more importantly do not overtrade. Shorting in very small position sizes to end up a reasonable average. I am sure most of you are aware. Just for guidance sake, assuming shorting since 9.50 (its medium-term view) and low leveraging, at current 13.80 rate we will have reached 1.05x leverage now. So, we are very fine and we can manage it well and have a profit objective of 10-15% at the closing of the positions. Back to the strategy, SELL 14.25 (unless you did 14.30-14.40 in the spike) and also reduce position at 12.50 and re-sell that above 13.50. Overall profit target 10.25>10.50 for now. Have a great day everyone.
Short
by peterbokma
2
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (14.00). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 72. Take Profits: TP1= @ 14.6083 TP2= @ 15.0000 TP3= @ 15.4872 TP4= @ 16.0000 TP5= @ 16.7306 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
9
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (14.00). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 65. Take Profits: TP1= @ 14.6083 TP2= @ 15.0000 TP3= @ 15.4872 TP4= @ 16.0000 TP5= @ 16.7306 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
4
USDTRY- LARGE DECLINE EXPECTEDI know, and some remarks given in the last week and today, technical views seems not to be warranted. I fully appreciate that when being short USDTRY with spikes and overdone situation with pain is not fun. However, it is not the first time observing such situations, and I sadly remain SHORT and add on price increases, but in small increments no doubt to ensure we have the right average on hand. The WEEKLY RSI 93.8 and daily again above 81.0. From my past experience, such levels are unheard of and will attract large corrections. Those that are long for the day trade, its great but still it is extremely dangerous. One comment was, I do not know the political situation. Well its true I do not live in Turkey, but we all can read and see the news. The market movements are used to buy USDTRY because of that. However, please be very careful as the turn around will come unexpected. Strategy unchanged and just be patient for 10.05> 10.3500 medium-term. If this chart is not wished for, just ignore :) In the meantime trade small on this currency pair (needless to say) best regards to you all.
Short
by peterbokma
USD/TRY Bulls keep eyes on 14.00 - 15.80 | But when ? USD/TRY yesterday remains range-bound near $12.40 heading into Monday’s European session. The Turkish lira (TRY) pair snapped a two-day downtrend the previous day while staying past a weekly ascending support line. Given the MACD line teasing bullish cross, as the quote remains above the short-term rising support line, USD/TRY buyers are likely to aim for the one-week-old horizontal resistance near $12.70. Following that, the $13.00 threshold may offer an intermediate halt during the run-up to the recently flashed record top of $13.49. Meanwhile, a downside break of the aforementioned support line near $12.30 will aim for a 50% Fibonacci retracement (Fibo.) level of the November 18-23 rally, around $12.00. During the USD/TRY weakness below the $12.00 threshold, the previous resistance line from November 23 and 61.8% Fibo., respectively around $11.80 and $11.60, will challenge the bears before October’s peak of $9.85. USD/TRY today advances for the third session in a row at the beginning of the week and trades at shouting distance from last week’s all-time highs past 13.0000 the figure ((November 24). The lira depreciates further on Monday in response to earlier comments by President Erdogan, who once again reiterated its firm opposition to interest rate hikes and sustained his (particular) view that interest rates generate inflation. Erdogan suggested that inflation could grind lower before the election in 2023 and added that the recent high volatility in the exchange rate is decoupled from economic fundamentals. Further selling pressure in the lira came after Turkey’s Economic Confidence Index eased to 99.30 in November (from 101.40). Additional data saw the trade deficit shrinking to $1.44B in October. key levels: So far, the pair is gaining 4.19% at 12.7578 and a drop below 11.5451 (low November 24) would expose 10.7007 (20-day SMA) and then 9.6361 (55-day SMA). On the other hand, the next up barrier lines up at 13.1105 (all-time high Nov.24) followed by 14.0000 (round level). -USD/TRY starts the week on a positive footing. -Turkey’s Economic Confidence dropped to 99.30. -President Erdogan defended once again the low-rate policy. USDTRY can be a profitable investment option. USD/TRY rate equal to 13.0648 at 2021-11-30 (today's range: 12.0455 - 13.0658). ... With a 2-year investment, the revenue is expected to be around +23.60%. Buy & Hold | +ROI Investment Suggestion: LONG-TERM Holding Duration : Min 2 yeasrs Probability: 74% Target: 14.0000-15.8000 INVT Fundamental Report: POSITIVE INVT Technical Report: POSITIVE INVT News Report: POSITIVE - SELLING PRESSURE PRICE 13.0000 - 13.0700 - FAIR BUYING PRICE 12.0000 - 12.3000 - Our option for #USDTRY is LONG TERM HOLDING. It’s important to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours or a few days and even harder to give long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong. We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis , and expert opinion before making any investment decisions. Be patient and look long term wisely and never invest more than you can afford to lose. Trading & Investing both are the master of RISK. Please comment, like and follow if it was helpful for you. Thank you for your time. Have a profitable day. | Review and analysis by Samadi.Finance |
Long
by AliSamadiTR
11
USDTRY- 13Dec2021USDTRY- 13Dec2021 On the weekly, price was not able to close above previous highs. We could expect the price to have one last impulsive move up and pull back this week. However noting that market participants are awaiting for Turkey's central bank announcement on the 16Dec21 On the H4 timeframe, prices tried to break above previous highs but faced bearish pressure. We will maintain slight bullish momentum for now This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS