I don;t know if y'all saw the currency run last week, but hilarious crap. This is why I trade TURd options. I once caught one of these runs and made an absolute killing.
This is just a quick look at the USDTRY pair. I'm evaluating the recent recovery of the Turkish Lira versus the dollar from about 8.5 TL per dollar to 7.3 TL. In my estimation, this recovery has not shown enough strength to continue. We can see that as soon as it touched the bottom of the drawn curve, RSI has reached the bottom of its parallel channel. That's as...
i think Turkish lira in coming down again all goverement can be force anything in future its not financial advice just idea from chart
is that nice? :) i think wave 1 completed wave 2 can be continue and we will wait for wb and wc .
I predict in the previous analysis; It happened up to the end of Fibo 432. In other words, the wave3 is over and we need to correction. This correction can last up to ten Turkish lira due to the sharp drop of MACD in daily time, means it will going to middle bolinger bands or 0.70 fibo. So; after which we will have a very small correction one again. Good luck
Inflation is running hot in Turkey at 21% YoY & soon to surpass the 2019 high of 25%. And yesterday the central bank, or dare we say President Erdogan, cut the weekly repo rate by 100 bp to 14%. His theory is that lower rates will tame inflation. And the Turkish Lira promptly hit an all-time low against the US dollar. President Erdogan for chair of the US Fed, anyone?
U.S. Dollar / Turkish Lira 30M 16th December, 2021 The 30 Minutes Chart with rising channel, we wait and see if the pair manage to break the upper trend line. Rejection and sustain trading below the line may see a correction first down to 14.3 area.
A Possible wave count on $/TL 2H chart. The trend as shown may target 16.
50% gains in a month - bullish! Tough times ahead for the Lira.
US dollar vs Turkish-Lira , again and again upward. —- Upward Above 14.11 Tp.: 14.62 & 14.95 & 15.45 Sl.: 13.75
A long Term uptrend daily channel may control the trend.
The chart pretty much explains itself. If the Turkish Central Bank can't interfere at the right time and place, we'll be seeing the Turkish Lira losing even more value and USD becoming equal to 8.70 Turkish Liras in December. Then we might see a retraction just like Bitcoin as the parabolic growth becomes unsustainable.
just an analayze. my opinion is still the same as before. price correction will be temporary. the lira will depreciate further in near future.
Back on March 31 of this year I posted this charts below. Unfortunately I had tried to demonstrate the imamate collapse of the TRY and posted the chart of TRYUSD instead of posting the correct ticker USDTRY. As such I marked long TRYUSD instead of Long USDTRY. None the less the comments do not signal bullish for the TRY. it has lost 40% of its value in just days...
Unfortunately, significant resistance has been lost in the logarithmic chart. But in a normal chart, the Turkish lira can be corrected by approaching the resistance frontiers. But what is not unexpected in the medium term is a further depreciation of the lira against the US dollar to at least 16.
This is for entertainment purpose only. If we consider Elliott Waves count on a Point and Figure Chart, one may see a possible wave count. The count is imaginary which may reflect the current and future sentiment on the Turkish Lira Trend.