The price has turned from 2.86 and the previous idea ("1.9") seemingly held true by the first upward spike which has broken the downward channel. Then the spike had a .618 retracement after which one might want to see the continuation of the upward movement. However, .5 lower median parallel still holds as a resistance. It might be a good idea to T/P for now and...
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...
Analysis on chart-- Check out user IvanLabrie's work and top notch signal page! @ www.tradingview.com
USDTRY broke once again to the upside, but this time out of a triangle as shown on 4h chart so looks like that pair is in late stages of current recovery from July lows. Keep in mind that triangle occurs prior to the final move within a larger trend, so we think that upside is limited and that reversal can follow to the downside from current 3.0000-3.1000...
Friends, As the $NZDJPY trade is well on its way (although, we are not assuming that it will reach targets, but only that we are moving along with the probability that it would do so - See its analysis and step-by-step developments here: ), we are now turning to another potential short. Whereas the $NZDJPY was heavier on basic technical conditions (Fibonacci...
Dollar is bullish when compared to Turkish Lira but we see move out from a triangle in wave (iv) as shown on the 2h chart, which means that uptrend can be in final stages to complete wave 5-circle on a daily chart. Ideally near 2.8800-2.9000. So for the short-term traders there can be still some room for longs after coming black subwave iv. www.ew-forecast.com
FX:USDTRY Fibonacci %236 Level 2.79090(Decision Point) Resistance : channel Horzantal(3) Resistance : Channel Horizantal (2) Resistance : 2.80270 Resistance : 2.79090 support : 2.77500 support :2.76500 support :2.740100
Potential Bearish Shark Pattern. Potential Head and Shoulders Top(Non-Ideal). Support at Neck_Line, 50 sma. Target 50% retracement, measured Target. RSI bearish Divergence. Extreme at 2.828
The Turkish Lira is at all time lows against the US dollar, partly because of Turkey's economy, macroeconomic policies, politics, and mainly because of the US Dollar which is the strongest currency out there (and yes, it will remain strong). While Turkey is a country with politic problems and an economy that is not growing anymore as it did in the past, the US is...
Article investing : tr.investing.com " This Analysis was drawn with algorithmic calculations" (Article) My link : tr.investing.com www.ersoytoptas.com.tr 89-Days Moving Average to do pressure Of the US dollar, the depreciation in the global market, restricting the upward directional movement of USDTRY parity. Usdtry analiz Resistance :...
Broke short term Uptrend_line. Lower highs, Retest. Fib retrace confluence. Currently At Horizontal Support, 50 sma, breaking support to confirm downside continuation. Targeting AB=CD(Green) with D1,D2, before potential Reversal at Bullish Gartley, Uptrend_Line confluence, for U1,U2. Invalidation, break above C.
Untill the june 7th general elections in Turkey, USDTRY is likely to go down. Due to a sudden 5% down move USDTRY is likely to move back to 50% fib level (2.6450) before to continue its downward movement. 4 HRS bull candle has confirmed the buy signal. 2,6400 target , 2,6000 entry , 2.5700 stop. Close the LONG @ 2,64 and SHORT @ 2.64 with a stop at 2,66
The Turkish general election of 2015 will be held on June 7, 2015
DXY is under pressure and TRY has been one of the weakest currencies against the dollar with market pricing in slowdown in economic growth, and elections in June. A pullback should be expected although our President has a habit of pulling the TRY down by verbally abusing the central bank so caution is due Open 3 positions or more for the two main targets with...
USDTRY(H4). Triple Top. Potential KoD like pattern.