GAME OVER FOR TURKISH LIRA emeği geçenin allah belasını versinGAME OVER FOR TURKISH LIRA emeği geçenin allah belasını versin
USDTRY 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
USDTRY 4H (make it uppward)#USDTRY has a strong power to up, each time it tries to get the highest price so in the previous idea we said will get 8.580 then will be down now you can see we get it the same thing.
above 8.4610 Will get 8.6100 and a Blue circle 🔵
under red Slope, the line will get 8.23 and red circle 🔴
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Tendency: Upward
Entry: above 8.4610
TP.: 8.6100 and 8.7600
SL.: under 8.3600
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
USDTRY from Money Supply PerspectiveUSDTRY with valued for the number of US dollars printed over the last months. By dividing USDTRY by M2 (money supply), I believe we can get a valuation that respects inflation.
Now we have to pay attention to the yellow trend-line and how the price action plays against that.
USDTRYIt broke 7.26 in 92 days and increased by 18%. Until 8.57, it was the same price again after 203 days. If it breaks this place as well, it is not surprising to see double digits.
USDTRY - Long Breakout?We caught a great trade from March going long (Profit/Loss Box Remains)
I just don't see the economic situation getting better anytime soon for Turkey.
I am actually living in Turkey currently, it's a lovely country with wonderful people, food and and and....
I see the break north, on a technical level the "Rising Wedge" pattern illustrated.
Keep on trucking! or trading whatever...
1% Risk, 2:1RR
USDTRY 4H (8.43 is important price to create stable direction)In the previous idea we said stabilizing above red slope line will get upward.
So now the price made a full stability above red slope line, if can’t break it will get the blue circle,
But break this line will be a strong downward,
———-
Tendency: upward
Entry: above 8.46
TP.: 8.56 & 8.75
SL.: stablize unde 8.40
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.
💡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
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💡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 ❤️
Buying Opportunity in USD/TRYHi everyone, bearish movement could be happened soon. There is an formation of wedge shaped ascending triangle over the trend line also there is an strong resistance around 8.50.
Price could be hit around 8.24 for short period of time which is an nice entry floor for a long term profit. In my view it is almost impossible to touch 8.00-7.90 level without any significant increase of interest rate.
USDTRY 4H (strong resistance 8.460)We have strong resistance at 8.460 if the price break this price will be get 8.560
But if can’t break 8.460 will get strong downward to get target.
1 Turkish Lira = 1 Dollar !!After breakout, we will reach 10 easily. If we throw a zero, we will reach our goal. Only Turkish people understand this joke :((
