USDTRY - Ascending Triangle, AB=CD, Head and Shoulders 1W IDEA
I think there is a 3 target point.
First target 3.0920
Second target 3.1455
Third target 3.1735
I had a request from a friend to analyze USD/TRY:
On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves.
Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us...
USDTRY is entering into a seasonal period where the country will host a lot of tourist. That is why, despite the lowering of the interest rate, TRY may not jump very high above 2.15 unless there is a geopolitical situation against Turkey or a suprise in the Presidential Election.
At then end of August and with the end of the touristic season, TRY may start again...
