I have not changed the view that the pair is way overdone, and that there will be a large decline coming. However, some very useful comments from viewers, that it is difficult for a decline due to the fact it would hurt the economy etc,
The catalyst for a sharp decline back to 10.50 > 13.75, is at election time results, that may result in changes to the...
It is very nice to receive so many comments on this pair. Some are kind of less polite, but that's no issue since all we are trying to do is to create technical analysis.
The pair has been climbing artificially (manipulated) for many months now. The RSI is way beyond the technical dreams on the monthly chart, and this suggest highly a correction back to 15.00 >...
It all started on the morning of December 20, 2021. The "Up Tick Rule" was implemented for one day in the stock market. The Up Tick Rule is an application that reduces the declines caused by short selling in stocks and is implemented to limit selling pressure.
The implementation method of this rule is that even though the capital market instrument subject to...
With current economic situations I believe After Erodgan's strong stance against monetary policy I believe we will see lower price's - The future will tell ;-)
The USDTRY pair tends to be extremely volatile, and hence it brings many scalping opportunities.
On the sell side, and on the hourly chart, you need to keep an eye on EMA-200, EMA-25, trading volume, its MA, and a few important points of time during the day. Zoom into the chart.
By 7:00 AM UTC (sometimes 8:00 AM), a significant trading volume spike above its MA...
Usdtr sell. Turkey was hit by earthquakes and in the result of this tragedy Turkish lira will become stronger.
Insurance payments and other expenses will cause liquidations of foreign assets belonging to turkey’s funds and government, money from those assets will have to be converted to Turkish lira-demand will grow and currency will strengthen.
Let’s see how...
It clearly is a managed float and for that reason it has not gone lower or higher.
The technical picture suggests we will return back towards 11.00-11.25 in the medium to long-term. On a short-term basis, looking at daily and weekly chart, we are clearly above 16.30 and this needs to be violated for a move south for now.
The long-term strategy is remain or go...
the price will consolidate between 18.590 and 18.855
the direction above 18.590 it will trade at the bullish zone to reach 18.855 and 18.925
but if reversed under 18.489 then will reach 18.425 and 18.382 & 18.250
The Turkish lira has been moving in the range zone for the past few days. If the support zone is broken during the current weeks, it may reach the 17.45 zone. Turkey spent last year with 85% inflation in the country and the Turkish Lira went up to nearly 19.5 per dollar.
We expect more upside before any significant pullback. Our target is 1 fib extension.
RSI remains strong and the price is about to break the previous all time high.
Once the price enters discovery mode, it should pump fast. Don´t try to short it or you will get REKT.
Forex market have started getting very volatile (after years of making us fall asleep), following the west heavily increasing their interest rates + the war against Russia.
The risk reward could be very good, the price can easily rally strongly. It looks like it could be about to burst. Even 15% odds of that happening are worth it to me.
The USDTRY fundamentals...
In terms of the wave analysis, it seems that we have reached the peak and completed a full cycle that started a decade ago, and we are standing on the resistance of the blue channel, and at the level of 2.618 Fibonacci, we do not want to exceed that level, and most likely we will bounce back to the target of 1.618 Fibonacci , to get the corrective wave A, first,...
