Thread: Usd/try
it seems like the USDTRY could break the 6.99141 Resistance and Continue Bullish, based on my Forcast the USDTRY will be Bullish although interest rates were cut by 0.75% on 16/01/2020 Making the price fall to 5.80, I came to a conclusion that it will continue being Bullish probably to 6.1900 before it pullsback.
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Ass (2020-02-12)
currency pair hai. usd/try
Resistance level yeh hain:
1- Resistance level is:5.4938
2- Resistance level is: 5.4950
3- Resistance level is: 5.4968
Supporting level is:
1- Supporting level is: 5.4925
2- Supporting level is: 5.4910
3- Supporting level is:5.4898
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Moon22 (2020-02-12)
Usd/Try
USD/TRY is closing on the resistance at 5.9385 (Oct. 14 high), having closed higher for the fourth straight day on Wednesday.
A break above 5.9385 is needed to establish a higher high and bolster the bullish setup represented by the contracting triangle breakout on the daily chart confirmed on Dec. 17 and the ascending 5- and 10-day averages.
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Moon22 (2020-02-12)
USD/TRY is the abbreviation for the US Dollar and Turkish Lira pair. It shows how much the USD (base currency) is worth as measured against the TRY (counter currency). For example, USD/TRY = 3.601 indicates that one US Dollar can buy 3.601 Turkish Liras.
USD/TRY
0.0124 (0.21%)
6.02 82 / 02
High 6.0432 Low 6.0008
USD/TRY
0.0124 (0.21%)
6.02 82 / 02
High 6.0432 Low 6.0008
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Moon22 (2020-02-12)
Hello eveeyone..
January of 2005, a new version of the Turkish Lira was issued after the previous Lira's value fell so dramatically that the conversion was $1 to 1.5 million TRY. As the economy relies on foreign cash looking to earn short term profits on higher interest rates, any global headwinds and the subsequent risk off environment can lead to massive depreciations of the Lira. Although the nation wishes to join the Euro-Zone, political conditions in Turkey and economic issues in the EU continue to delay the process.
Thanks.
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Moon22 (2020-02-12)
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Moon22 (2020-02-12)
Usd/Try
USD/TRY is closing on the resistance at 5.9385 (Oct. 14 high), having closed higher for the fourth straight day on Wednesday.
A break above 5.9385 is needed to establish a higher high and bolster the bullish setup represented by the contracting triangle breakout on the daily chart confirmed on Dec. 17 and the ascending 5- and 10-day averages.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Hello Traders
In the very immediate term EM FX will be hijacked by the ebb and flow of coronavirus headlines and the spillover effects on growth. Regular readers will know I have been a bear on Turkey for years, this environment will not attract any fresh RM inflows into Turkey - just take one look at the yields and the CBRT cutting cycle.
On the technical side, the breakout we traded unlocked 7.80xx for the year. Reassessment on the bearish view is only required on a break of the 4th wave support located below at 5.4xx. The upside is wide open and will trigger the dominos in the collapse of Erdogan and Turkey as we know it.
As usual thanks for keeping your support coming with likes, comments and etc!
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USDTRY main and major trend is Bullish
1. Support 5.31
2. Support 5.22
3. Support 5.05
1. Resistance 5.63
1. Resistance 5.75
1. Resistance 5.92
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Asadjaved (2020-02-12), Moon22 (2020-02-12), Muhammadasif11 (2020-02-12)
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