From left to right order. IHS pattern, Cup and handle.
Symmetric Triangle A and B(false brake_out).
Elliot 5 wave, Double Top at 2.18753. Channel Support
AB=CD, corrective ABC wave, while holding strong horizontal support.
Support found at 38.2%. 1.618 Ext
potential IHS - Bearish Butterfly.
MACD crossover, triangle., in uptrend. With a closing bullish...
Rally on this pair confirmed bullish outlook. 4H overbought situation in Murrey Math lines may delay further rally but it should continue in near future
Heard a bit today that some tie the Turkish currency to the SPY and US markets. This pair sure runs oppo consistently, and if history repeats, well....
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...
Here's a little fun with ellipses. They are so hard to get the size and aspect right. These rings are all the same size and aspect (shape). The other distances have been temporarily turned off. If you want to work with the chart, click "make mine" in the upper right corner. To adjust the rings, right click on the object, "format" and select or deselect (or even...
I BELIVE THAT USDTRY HAS AN EDGE ON THE SHORT SIDE, AND WE MAY SEE A PULLBACK TO THE 1.28-1,29 AREA NEXT WEEK.
IF YOU DECIDE TO TAKE THIS TRADE MAKE SURE TO PUT A STOP ABOVE THE RECENT HIGH OF 1,3450.
It looks like it's topping out vs. the dollar. Remember certain EMFX will/can give much better returns to risk. Since turkey is considered more in the line of fire from speculation.
USDTRY is short term downtrend. After turkish markets ten days holiday, as monday markets open fast downtrend. I think end of year my target 1.90-1.93 between.
