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Forex Analysis for USD/TRY

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USD/TRY surged to record high
USD/TRY surged to record high
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 ...
0
BCH/USD trying to test liquidity void, July 07, 2020.
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....
2
MXN and TRY: consolidation at the resistance
MXN and TRY: consolidation at the resistance
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...
6
MXN, RUB, TRY: uncharted potential
MXN, RUB, TRY: uncharted potential
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...
17
USD: technical outlook
USD: technical outlook
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/...
16
Turkish lira gains against dollar
Turkish lira gains against dollar
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,...
20
USD/TRY: at 16-month resistance
USD/TRY: at 16-month resistance
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...
14
AUD/USD trying to re-balance after deep bearish condition amid coronavirus pandemic on March 27, 2020
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 ....
6
Ichimoku Cloud Analysis 26.03.2020 (EURUSD, USDCHF, USDTRY)
Ichimoku Cloud Analysis 26.03.2020 (EURUSD, USDCHF, USDTRY)
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...
14
TRY: between Erdogan and the rest of the world
TRY: between Erdogan and the rest of the world
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...
15
TRY: questionable grounds
TRY: questionable grounds
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...
5
NZD/USD trying to test the 0.6520. Technical analysis for Jan 28, 2020
NZD/USD trying to test the 0.6520. Technical analysis for Jan 28, 2020
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....
2
Successful trader's guide to 2020
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,...
45
USD/TRY: levels to trade
USD/TRY: levels to trade
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 ...
7
Can Turkish lira regain support?
Can Turkish lira regain support?
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...
11
We fix the profit!
We fix the profit!
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...
21
USD/TRY: there may be a correction
USD/TRY: there may be a correction
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...
3
The collapse of the Turkish lira
The collapse of the Turkish lira
Relevance up to 00:00 2019-10-09 UTC+2 Good afternoon, dear traders. Today, we will talk about a very unusual instrument that I periodically trade "from the foundation." This is the Turkish Lira, namely paired with the US dollar. Yesterday, looking through the news streams, I noticed Trump's stat....
2
USD/TRY is volatile
USD/TRY is volatile
Trade ideas BUY 5.7260; TP 5.7450; SL 5.7200 SELL 5.6990; TP 5.6570; SL 5.7050 USD/TRY formed a bullish gap on the D1. It happened on the increase in the market’s risk aversion. Notice that, all in all, the pair’s consolidating within a triangle and has space to move inside it. The advance above tod...
5
USD/TRY is returning lower
USD/TRY is returning lower
Trade ideas SELL 5.6400; TP1 5.6165; TP2 5.5900; SL 5.6550 BUY 5.7100; TP 5.8000; SL 5.6800 USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1. The daily Awesome Oscillator is going down, so it’s natural to expect the continuation of th...
4
USD/TRY may return to lows
USD/TRY may return to lows
Trade idea SELL 5.52; TP1 5.50; TP2 5.45; SL 5.54 USD/TRY met resistance near the line connecting 2019 highs in the 5.62 area. This is also where the 50-week MA is capping the price. The pair is currently testing levels below the 200-day MA (5.55). The key area on the downside is located at 5.5220 (...
1
Fundamental analysis: 3 events to trade
Fundamental analysis: 3 events to trade
The upcoming days are going to contain lots of important economic events. Let’s go through them together in order to prepare for profitable trading. RBNZ Official Cash Rate & Rate Statement When: Wednesday, June 26 Instruments to trade: NZD/USD, NZD/JPY, AUD/NZD According to the consensus forec...
38
Elections in Turkey: can they fix the TRY?
Elections in Turkey: can they fix the TRY?
On Friday, USD/TRY rose to its last October’s highs above the 5.82 level. Such a dramatic drop of the Turkish lira raised concerns about the instability of the Turkish economy once again. With many political and economic uncertainties in the country, we may just wonder whether the local elections on...
11
EURUSD Trying to Get BalancedMarket Review, 22/03/2019
22.03.2019The major currency pair is looking for a way to get stabilized, while the greenback followers are trying to recover after the Fed meeting tensions. The EURUSD is currently trading at around 1.1382.Quite a few PMI and business reports are being released today in the afternoon, covering the ...
1
USD/TRY is looking for patterns
USD/TRY is looking for patterns
Trade ideas SELL 5.30; TP 5.2685; SL 5.3150 SELL 5.2380; TP 5.2230; SL 1.2430 USD/TRY has been trying to recover since the end of January. The pair formed a higher low. What we see on the chart may be a forming harmonic “Bat” pattern. It means that USD/TRY may continue higher, to 5.3040 to complete ...
2
Check USD/TRY
Check USD/TRY
Trade idea BUY 5.3750; TP 5.41; SL 5.3580 SELL 5.3040; TP 5.2345; SL 5.33 USD/TRY has moved sharply down this week falling to the support line since the end of November. Consolidation is now taking place between the 100- and 200-day MA on H4. On D1, the pair’s around 50-day MA at 5.3280. It’s possi...
8
How about USD/TRY?
How about USD/TRY?
Trade ideas SELL 5.28; TP 5.19; SL 5.31 BUY 5.37; TP 5.50; SL 5.34 This week’s problem is that many pairs have already made big moves and yet we know that there will be a news trigger later today as the US releases the Nonfarm Payrolls data at 15:30 MT time. It looks like USD/TRY has some potential ...
6
Why is the Turkish lira crawling?
Why is the Turkish lira crawling?
The beginning of the month was quite eventful for the Turkish lira. However, this week it started to lose its volatility. What is happening? The Turkish lira started to gain its momentum during the first week of November. It was supported by the higher-than-expected level of manufacturing PMI at 44...
17
USD/TRY: calm before the storm?
USD/TRY: calm before the storm?
The consumer inflation in Turkey increased to 24.5% in September - the highest level since August 2003. Producer prices increased by 46.2% as well. The reason for it lies in existing currency crisis and the US sanctions against two Turkish diplomats. However, it seems like the Turkish lira has react...
5
Global macro overview for 21/08/2018
Global macro overview for 21/08/2018
On Monday, the 13th of August, Turks woke up with a course of lira at the level of 7 per dollar, it became clear that the current policy in combating the crisis did not pass the exam. The joint actions undertaken by the government and the Turkish central bank at that time allowed the campaign to sto...
10
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