On USDTRY we are still tracking an upward correction since November, which can be a zigzag with an ending diagonal still unfolding in wave (C). So based on short-term swings we may see a retest of 2.9600 area and then final push up to 3.0000 to complete current upward cycle. That said, price may turn down later this week.
www.ew-forecast.com
USDTRY keeps moving higher, now already above the high of a red wave (A) so impulsive wave (C) is in full progress that can be targeting 3.0000.
Our past updates on this pair :
USDTRY keeps trading higher, as expected following recent three wave set-back down in wave (B). We see current leg up moving in impulsive manner so uptrend is expected to continue higher into wave (C) towards 3.0000.
Our past updates on this pair :
www.ew-forecast.com
USDTRY bounced nicely in the last few session from 61.8% Fibonacci support and out of a downward channel that suggests more gains in sessions ahead. Todays close around current levels or around 2.9000 will suggest a continuation up to 2.9800-3.0000 area in coming days.
Our past updates on this pair :
USDTRY hit 61.8% Fibonacci level recently from where price is now turning up so this can be an early start for a new impulse wave up back to 2.9400 in days ahead. Invalidation level remains at 2.7557; as long this low is not taken out we are looking up.
Our past updates on this pair :
www.ew-forecast.com
Time at mode gives me a strong downtrend signal for this pair on the daily.
The elections caused price to take a massive dive, after which we had a good long trade setup, which I posted here and hit targets, although it took a long time to arrive to it.
Now, I think it's pretty clear that the pair will resume its downward trayectory towards a potential retest of...
On the 4H chart of USDTRY we see a completed first leg as in red wave (A) of a bigger three wave correction that started from 2.7573 low. That said we are now tracking a three wave movement in red wave (B) that seems to be in final stages and could be completed in session ahead. We may expect a reversal to the upside at 50 or 61.80% fibo. level of previous five...
On the 4h chart of USDTRY we are tracking the first leg of a three wave retracement in blue wave B-circled, labeled as red wave (A), that could be completed in session ahead as price is now trading in black wave 4. The Correction in black wave 4 can retrace to 38.20 or 50 % of previous black wave 3 before continuing higher into wave 5.
www.ew-forecast.com
Link...
USDTRY has turned sharply down in mid-September that looks like an impulsive bearish reaction; mostly like first wave of a minimum three wave decline that can continue down to one of the former fourth waves around 2.600. But before weakness may resume we expect a three wave bounce in wave B-circled. On 4h chart we see that first impulsive wave (A) is already...
This is an interesting portfolio.
Will these pairs follow USDCNH's lead?
Is this the beginning of a new fundamentally backed intermediate term trend?
Or just a very nice short term short?
Setups on chart, we will cover these in our skype group's discussions.
If you want live updates and more information, make sure to contact me via pm or skype. I provide signals...
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...
