USDTRY 6H (it try to break the resistance)Us Dollar vs Turkish lira, now it look to the new direction by breaking 13.82 will be upward.
But under 13.00 will be downward ....
Upward: above 13.30
Tp.: 13.60 & 14.20 & 15.5
Sl.: 13.30
USDTRY trade ideas
USDTRY- 03Feb2022USDTRY- 03Feb2022
On the H4, price have bounce back above all 3 MAs.13.62 remains the crucial pivot where if the price close above it could potentially swing towards 1st Resistance at 14.225.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY-NEUTRAL downside biasThe USDTRY cloud resistance will be soon lower at 13.8500-13.8600.
For now, we remain neutral and with a small downside bias. I am not venturing on this one still, and for those SHORT a healthy interest rate differential will help to benefit each day and week that goes by.
The downside is likely 11.80 -10.50 short term and a break above 13.8500 would bring us towards 15.50-16.50 whereby we will be a LONG TERM seller.
USDTRY- NEUTRAL - ranging onlyIt's the same story every day. We are ranging and there is no clear indication of what is next.
The only thing we can observe, is that we are below the cloud with resistance 13.85 coming sessions.
Further convergence line below base line, and for the rest it's a narrow trading band.
I feel focus is on down side, and thanks for some comments, and they are right, the cost-of-carry is heavy when LONG USD.
So for now, I am neutral not willing to commit, but for those willing too, SELL strategy 13.25-13.65 for move to 11.80 and maybe even 10.50.
USDTRY- NEUTRAL down side biasFor now am not committing to the pair. It's ranging only for good reasons as explained last week.
I suggest downside bias still and we may see 11.80- 10.50 short-term. However a break above 14.23-14.28 will ignite stronger upmove. For now play the range only, if one wishes to venture in this lifeless moves for now.
💡Don't miss the great sell opportunity in USDTRYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (13.4582).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 42.
Take Profits:
TP1= @ 13.3034
TP2= @ 13.1461
TP3= @ 13.0009
TP4= @ 12.8630
TP5= @ 12.6840
SL: Break Above R2
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💡Don't miss the great sell opportunity in USDTRYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (13.4582).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 42.
Take Profits:
TP1= @ 13.3034
TP2= @ 13.1461
TP3= @ 13.0009
TP4= @ 12.8630
TP5= @ 12.6840
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
USDTRY- 31Jan2022USDTRY- 31Jan2022
On the weekly, this would be the 5th week USDTRY is consolidating after a bounce from 10.40.
On the H4, price tested the 13.62 crucial pivot several times but have not been successful. Price action remains calm for now as we wait and monitor the next move.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY- NEUTRAl down side biasYes, I know, it feels like a weekly change of direction. The issue really is, there is a clear cap that can be observed even when the DXY moves up dramatically, whilst the USDTRY only seems to increase slightly. The regulators inclusion of 10% of foreign deposits to be converted to TRY before 15 April 2022, and if not, a penalty will apply. Further, it does not add to the reserve requirements, is if indeed correctly understood, a capital restrictive action.
The cost-of-carry is expensive no doubt makes being long not that easy. Even my side, I will liquidate, but only minor cost since I use very small leverage for this pair at all times. So not a big issue here. I can understand those trading larger amounts, it to be a paining experience.
Very sorry, but now stochastic starting to turn negative, and we have the strong 14.23-14.28 resistance, and our medium-term to long-term objective has not been met yet, as these charts are still very overbought.
I am neutral stance now, and for those preferred to hang in their shorts or a fresh SELL position, likely selling current 13.45-13.55 is fine for now and keep stop back to 14.35 (as per some weeks ago idea I had). Objective 11.80 - 10.50.
USDTRY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDTRY- BUY strategy (repeatently)No change in view.
However, we are not moving an inch either way. Guess patience is the key.
Buy current 13.25 - 13.65 for a move towards 15.50-16.50. Stop-loss unchanged 11.50 for now.
The stochastic is positive, MA 10 vs 30-MA positive, conversion line above base line provides enough basis for the BUY strategy.
Let's say how we can watch paint dry :)
USDTRY 10H Strong upward is above 13.80 Usdtry now at the sensitive price if can break red triangle will try to goes for their side.
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Strong upward is above 13.80
USDTRY-BUY strategyNo change in view.
Looking at 10-MA vs 30-MA we are positive and stochastic as well. The key for strong uptrend is 14.23-14.28.
Strategy still BUY 13.25-13.65 for move to 15.50-16.50 in short-term. I know its a slow market and both ends are controlled for now.
USDTRY- 27Jan2022USDTRY- 27Jan2022
On the H4, 13.62 remains the crucial pivot . If the price can close above this level, we could expect it to bounce higher to 1st Support at 14.2250.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRYThe broken triangle is broken upwards and the pullback is completed
It probably grows to the size of an arrow.
Targets are specified and the limit of losses is specified
USDTRY-BUY strategyNo change in view. But do note we need to break 14.23 first, but feel looking at stochastic and uneventful down side still prefer LONG for now..
Strategy BUY 13.25-13.65 for a move towards 15.50 > 16.50. stop-loss 11.50 for now...
USDTRY- 25Jan2022USDTRY- 25Jan2022
On the H4, 13.62 remains the crucial pivot . If the price can close above this level, we could expect it to bounce higher to 1st Support at 14.2250.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY- NEUTRAL but upside bias nowWe have been playing a very narrow range for quite some time now, not being able to either settle higher or lower.
This means decisions can be made by the flip of a coin. I personally will not use that method LOL.
Any way, we are below the cloud , which normally signals bearish stance. However, the stochastic RSI is positive now, and starts building a case of seeing higher level, but not solid above 14.2300.
I have tried short, in these ranges, and has had no fruitful outcome and also because I had no technical side to support otherwise. Today, I feel we may see upside, even though am neutral. So my strategy is dependent to the individual decision, mine being, BUY current 13.45-13.55 for a break of 14.23 > 15.50-16.00. The profit level maybe first 15.40 for now and stop loss 11.50.
USDTRY- 24Jan2022USDTRY- 24Jan2022
On the weekly, price seems to be forming a bullish consolidation for the last 4 weeks. If the price continues further consolidation, we could expect USDTRY to move higher.
On the H4, 13.62 remains the crucial pivot. If the price can close above this level, we could expect it to bounce higher to 1st Support at 14.2250.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDTRY flag patternAfter touching ATH in usdtry and a manipulated dump , now we have a potential bullish flag, waiting for breakout ..
USDTRY-RANGE and feel upside biasWe have not changed an inch almost on the currency pair, and that is worrying. It is like flipping of a coin in seeking direction.
For now, SELL strategy better fit since we are near resistance 14.25 (14.3500 stop-loss) and also we are moving below the cloud coming sessions. This is usually a negative sign so I still believe we see lower 11.80-10.50 short-term.
Once the resistance 14.23 is broken, will ignite sharper up move.
