Forex Analysis for USD/TRY
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25.03.2021 10:42 Forex Analysis & Reviews: Turkish lira plunges after Erdogan fires Central Bank's chief. Trading recommendations on USD/TRY
What happened? The Central Bank of the Republic of Turkey (CBRT) raised its cash rate, surprising investors. It was a necessary action for Turkey to meet the bank's target of lowering inflation to 9.4% by year-end to approach the longer-term target of 5% in 2023. "It is crucial that the lira offers...
What happened? The Turkish lira surged after Tukey reported inflation climbed to 15% in January. It bolstered analysts’ expectations that monetary policy will be kept tight for a longer period. Moreover, the International Monetary Fund (IMF) published its forecast that Turkey's economy will grow by ...
Here are the main exotic currencies offered by FBS in MetaTrader: the Turkish lira, Brazilian real, Mexican Peso, Russian Ruble, South African Rand. Most of them are regional, relatively weak currencies. That’s why, against the USD, they can’t do anything but depreciate – for years. That brings mane...
One of the recent “achievements” of USD/TRY was reaching 8.50 at the beginning of the month. TRY has never been as cheap to the USD as that as you can see in the lower monthly chart. However, it immediately bounced downwards dropping below 8.00 and currently trading at 7.66. Will it reach 7.00? That...
In just several hours, USD/TRY went down from 8.40 to 8.00. Although we already got pretty used to turbulence with the Turkish lira, a move this big is something quite outstanding. What’s happening? Two days ago, the Turkish President Erdogan fired the central bank governor Murat Uysal. One day ago,...
Ichimoku Kinko Hyo CAD/JPY: The CAD/JPY is trading within the Kumo. An upward wave would lead the pair to exit the cloud, confirming a new bullish outlook. US Market View Wall Street was set to open higher on Tuesday as investors bet on a clear win for Joe Biden in the most polarized U.S. presi...
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair has just breached the cloud and confirmed a new bearish outlook. Further bearish momentum will push prices into lower ground. European Market View EUR/USD currently below 1.1650. Everyone is waiting for the results of the US elections, and the direc...
Technicals USD/TRY reached 7.94 a week ago. Since then, it has been but moving down. Lately, it has been floating above 7.76 between the 100-MA and 200-MA. The last spike back to the recent highs may not be the last you see - the TRY has a lot of problems. On a larger timeframe, 8.00 is not yet reac...
Why you are reading this Because you can trade Turkish lira, and there are things happening right now that may affect the course of TRY very much. What’s happening Azerbaijan and Armenia are at war – again. Who started it – doesn’t matter anymore. What matters is who wants what and what position eve...
USD/TRY continues moving upwards after breaking the all-time high of 7.50. Does it have more room to keep rallying? Let’s find out. What happened? The credit rating agency Moody downgraded Turkey’s debt rating to junk. Besides, Moody gave a considerably negative prognosis on the Turkish lira itself ...
Relevance up to 07:00 2020-07-09 UTC+2 After having touched the 4-hour Chart Rejection Block, the BCH/USD pair is trading with a bearish bias. Now it is trying to test all the Liquidity Void (Light Cyan Rectangle) bellow the current price. If the BCH/USD does not rise and close above the 245 level....
The optimistic vibes of the end of May/beginning of June made investors lose interest in the USD. That made it lose value against risky currencies such as the MXN and the TRY. Eventually, the USD got back to power when the optimism got exhausted after the first week of June. Consequently, USD/MXN an...
Intro Currencies of developing countries such as the RUB, TRY, and MXN are by definition unstable. That’s why they fluctuate more than main ones, offering wider profit opportunities. At the same time, they are normally weaker than the USD. In the long run, therefore, you are likely to see USD/RUB, U...
The confusion created by the Sino-American relations coupled with virus-related economic factors pushed the USD to rise against some currencies and lose against the others in today’s session. Let’s see a technical disposition in the most interesting cases so you can set your trades accordingly. USD/...
TRY bounced back to 6.9 as the government appealed for funding. Where is it headed now? The Turkish government took defensive measures to avoid the currency crisis. The Turkish central bank asked foreign allies for funding. They have already held talks with the USA, Japan, the United Kingdom, Qatar,...
Long term While the battles between the USD and its European and Asian counterparts keep going, the currencies of the developing countries show little resistance to the US dollar. The Turkish lira is one of them. Coronavirus and the oil price war changed little for the upward tendency of the USD/TRY...
AUD/USD trying to re-balance after deep bearish condition amid coronavirus pandemic on March 27, 2020
Relevance up to 08:00 2020-03-29 UTC+2 If we look at the 4-hour chart, we can see that a after deep slump the pair is trying to re-balance its position to catch the fair value again. From the technical viewpoint, this condition has been already confirmed from the CCI (30) which has already broken ....
26.03.2020EURUSD, “Euro vs US Dollar”EURUSD is trading at 1.0907; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0865 and then resume moving upwards to reach 1.1065. Another signal...
Syria Normally, we observe fundamentals or recent news and then come to the consequences for the respective currencies. This time, let’s make it the other way around and march from the “crime” back to the motive. So we are speaking about the Turkish lira now and how it mirrors the war in Syria, in w...
Currency pair of the day: USD/TRY Performance in 2020: +1.6% Last day range: 6.0177 – 6.0521 52-week range: 5.2863 – 6.2860 TRY: 10 years of losing against the USD The Turkish lira is depreciating against the US dollar. In fact, that has been the case for more than 10 years, with the exception of t...
Relevance up to 04:00 2020-01-29 UTC+1 Today as we see on the 4-hour chart, the NZD/USD pair seems to be still under downward pressure now. The pair has got hold on the 4-hour chart where the Fair Value Gap Main Threshold at 0.6535 seems to be the support level at 0.6520 (as 4-Hour Chart Liquidity....
The upcoming year opens a new decade. The events of Blade Runner would have already taken place. Do you feel that the future is here? In this article, we look at the economic side of things. Will the trends we observed in 2019 continue in 2020? What will happen with the global economy? And, finally,...
Trade ideas SELL 5.7320; TP 5.7180; SL 5.7400 BUY 5.7750; TP 5.7960; SL 5.7660 USD/TRY has broken above the descending wedge. It is currently testing levels above the 50-day MA at 5.7372. The price action on the H4 is in line with the parameters of the bearish “Shark” pattern. That would imply the ...
While major currencies draw a lot of attention these days, it may be worth keeping a broad view of the market. If we start looking for profit opportunities elsewhere, the Turkish lira will come up soon. What’s happening with the TRY and is it fit for trading? During September and the beginning of Oc...
Good morning, dear traders. Time to take profits! The first in line is the Turkish Lira and USDTRY. Close positions +500p. The second on waiting lists – gold. Tonight, the instrument updated for 4 days on highs and didn't reach our main target of 1519. I consider this a false breakdown and recommen...
Trade idea SELL 5.7980; TP1 5.7700; TP2 5.7425; SL 5.8060 USD/TRY ran into the resistance of 5.83. Traders are taking profit and readjusting positions after a very big advance that happened on Monday. On the D1, a “hanging man” candlestick was formed. This allows us to expect correction down, at lea...