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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

USD/TRY: New Highs Achieved as Turkish Lira Problems GrowNew record highs have been made by the USD/TRY in early trading as the Forex pair has climbed above 10.00000. A look at nearly any technical chart shows the Forex pair has been within the grasp of a long-term bullish trend, and this is not likely coming to an end soon. The question for traders is how the momentum of the USD/TRY can be taken advantage of in the midst of this storm which continues to threaten new heights. Speculators may be able to trade the USD/TRY via their chosen broker, but before they stumble into a speculative winning decision they must consider the costs of the transaction. To accomplish getting into the USD/TRY a trader needs to enter a solid entry level, because the spread in the bid/ ask for the Forex pair may be very wide and deliver unexpected price fills which do not meet expectations. This can create costs which make the USD/TRY difficult to trade and ill-fated. If that criteria can be met, and before even putting on the trade still, a speculator need to find out what the ‘carrying charge’ for holding the position overnight will be if this is needed. In other words you as the buyer of the USD/TRY will be charged a fee for being allowed to speculate with a large sum of money via leverage, and the costs can be high if you need to hold the position into tomorrow and further. If a trader has made sure they can get into the USD/TRY with a solid price point and understands all the fees they may encounter - then it is time to allow the Forex pair to trade. Having broken through the important psychological barrier of 10.00000 is no small feat for the USD/TRY and if this current price level is sustained without a violent reversal, it could indicate that upwards momentum will continue in the near term. There is reason to suspect price velocity within the USD/TRY can turn volatile at any time, however, and traders need to be ready to handle the moves with take profit and stop loss orders working. The USD/TRY is recommended as a wager for Forex traders who have a lot of experience. New speculators should be careful before attempting to trade the pair. Resistance near the 10.10000 mark may seem like a road too far, but if the pair’s upwards momentum continues to be sparked this value seems more likely than support ratios below the 9.80000 level being touched in the near term. Turkish Lira Short-Term Outlook Current Resistance: 10.04000 Current Support: 9.95000 High Target: 10.13000 Low Target: 9.87000 The USD/TRY has broken through the 10.00000 ratio and its path higher may not be complete quite yet.
Long
by SmoothJB
USDTRY- 16Nov2021USDTRY- 16Nov2021 On the monthly time frame , we could expect 3 white soldier candles forming. Hence a bullish momentum is expected for the rest of Nov21. We could expect its bullish trend to continue to at least strong 1st Resistance at 10.67160 before facing any bearish pressure. On the H4 timeframe, we could expect USDTRY to continue its bullish momentum to 1st Resistance at 10.26793. This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS
USD TRY long term view up to 10.60 - 12.00Currency markets were becalmed in early Asian trade on Monday. The only action was on the Emerging Markets with the Turkish Lira hitting an all-time low. Against the US Dollar, the TRY (Turkish Lira) hit a record low of 9.85 so far in early Asia. * Turkey 2021 inflation target raised to 18.4% from 14.1% * Miners lead losses in China, Russia as commodity prices fall * U.S. telecoms regulator revokes China Telecom’s authorisation Emerging market stocks slipped for a third session on Thursday as sliding commodity prices and fresh fears about U.S.-China ties weighed, while Turkey’s lira fell on a worrying divergence between the direction of inflation and monetary policy. With sliding base metal and basic material prices, miners led losses in most bourses. Heavyweight China stocks lost between 0.4% and 1.2%, while a 4% slump in Russian aluminium giant Rusal took Moscow’s MOEX index 0.9% lower, more than 2% away from record highs. Meanwhile, news of the U.S. telecoms regulator revoking China Telecom’s authorisation to operate late on Wednesday sparked fears about the fragile relation between the world’s two largest economies. A tit-for-tat tariff war between China and former U.S. President Donald Trump’s administration had roiled global financial markets and contributed to slowing economic growth. In debt markets, the average yield on EM local debt moved back above 5.6%, the highest since March 2020. While most EM currencies made muted moves against a steady dollar, Turkey’s lira dipped 0.7% after a three-day relief rally. The central bank raised inflation targets for the next three years, with 2021 year-end inflation now seen at 18.4%, up from an earlier forecast of 14.1%. “The argument that high inflation is transitory may be true elsewhere, but not in Turkey, which has experienced high inflation for over a decade,” said Tatha Ghose, FX analyst at Commerzbank. “No matter what (the central bank) writes in its statements about limited room available for further rate cuts, President Tayyip Erdogan will not be happy until rates have been cut to single digit... As the unconventional monetary policy experiment unfolds, we can see USD-TRY overshooting by a wide margin.” The currency has been the worst performing among EM peers this year, thanks to uncertain and unconventional monetary policy amid surging inflation by a central bank fast losing autonomy, as well as depleting foreign exchange reserves and strained ties with the West. South Africa’s rand traded flat as state power utility Eskom increased scheduled power cuts on Wednesday after further breakdowns at its coal-fired power stations. A report suggested it will require $30 billion to end its coal reliance. Eyes were also on local elections scheduled on Monday. A weak result for the ruling ANC party in Johannesburg or in Tshwane, which comprises Pretoria, would be a heavy blow for President Cyril Ramaphosa and his reform course, and is therefore also likely to affect the rand, said Commerzbank. USDTRY can be a profitable investment option. USD/TRY rate equal to 9.632 at 2021-11-03 (today's range: 9.593 - 9.658). ... With a 5-year investment, the revenue is expected to be around +62.89%. - SELLING PRESSURE PRICE 9.55 - 10.00 - FAIR BUYING PRICE 7.80 - 8.90 - Our option for #USDTRY is HOLDING LONG TERM. Do your research before any trade or any investment, make your own decision, be patient and look long term wisely. Please comment, like and follow if this post helped you. Thank you for your time. Have a profitable trading. | Review and analysis by Samadi.Finance |
Long
by AliSamadiTR
2
USDTY (Turkish Lira) - SELL strategyI cannot change mind on this currency pair, and remain SELL SELL strategy. In fact, I do not see a stop-loss being useful, since we have enough parameters that are suggesting we will correct sooner than later: RSI for weekly and daily chart are very high. Secondly we are above BB band as well. The moving average have not crossed negative as yet. If one placed stop-loss, I assume somewhere 10.50 for now. Profit should be 9.2200 below and 8.37 medium-term.
Short
by peterbokma
3