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Usdtrylong

Turkish Lira is far from recovery. This is just a quick look at the USDTRY pair. I'm evaluating the recent recovery of the Turkish Lira versus the dollar from about 8.5 TL per dollar to 7.3 TL. In my estimation, this recovery has not shown enough strength to continue. We can see that as soon as it touched the bottom of the drawn curve, RSI has reached the bottom of its parallel channel. That's as far as this recovery will go. In fact, I think the next five years will see the USD appreciate against the TL by 150%, which is exactly as much as it has appreciated during the past five years. This will take it all the way up to 18TL by February 2026. This signal I consider strong enough to predict a complete reversal of this trend is significant RSI divergence, i.e., a higher high in price coinciding with a lower high in RSI. We have seen one instance of slight RSI divergence shown in the chart which has contributed to a recovery in August 2018 from 7.08 to 5.13 TL. That is 27.5% appreciation for the dollar. To imagine what a significant RSI divergence would look like, consider the most recent top on 2 Nov 2020. Look at the RSI level on that same day. We're looking for a higher top in price where RSI is significantly lower, ideally within the blue zone. That would be a strong signal for trend reversal. Another thing to notice is the blue zone and the ascending parallel channel. What's the meaning of the blue zone? When RSI climbs above it, the asset is said to be overbought. It means that price has went up too high too fast without enough real demand backing it up. However, that interpretation really depends on the parameter used. A better, easier and more reliable way to use RSI is to look for RSI divergence like I explained. That becomes even more relevant for this chart when you notice how RSI levels have been steadily climbing in the parallel channel shown. That means that the overbought zone becomes less and less significant as an indication. But it also means that TL recovery phases will be more and more volatile.
Long
by TechNerdOmar
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (14.00). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 72. Take Profits: TP1= @ 14.6083 TP2= @ 15.0000 TP3= @ 15.4872 TP4= @ 16.0000 TP5= @ 16.7306 SL= Break below S2 ❤️ 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 ❤️
Long
by ForecastCity_World
9
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (14.00). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 65. Take Profits: TP1= @ 14.6083 TP2= @ 15.0000 TP3= @ 15.4872 TP4= @ 16.0000 TP5= @ 16.7306 SL= Break below S2 ❤️ 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 ❤️
Long
by ForecastCity
4
USD/TRY: New Highs Achieved as Turkish Lira Problems GrowNew record highs have been made by the USD/TRY in early trading as the Forex pair has climbed above 10.00000. A look at nearly any technical chart shows the Forex pair has been within the grasp of a long-term bullish trend, and this is not likely coming to an end soon. The question for traders is how the momentum of the USD/TRY can be taken advantage of in the midst of this storm which continues to threaten new heights. Speculators may be able to trade the USD/TRY via their chosen broker, but before they stumble into a speculative winning decision they must consider the costs of the transaction. To accomplish getting into the USD/TRY a trader needs to enter a solid entry level, because the spread in the bid/ ask for the Forex pair may be very wide and deliver unexpected price fills which do not meet expectations. This can create costs which make the USD/TRY difficult to trade and ill-fated. If that criteria can be met, and before even putting on the trade still, a speculator need to find out what the ‘carrying charge’ for holding the position overnight will be if this is needed. In other words you as the buyer of the USD/TRY will be charged a fee for being allowed to speculate with a large sum of money via leverage, and the costs can be high if you need to hold the position into tomorrow and further. If a trader has made sure they can get into the USD/TRY with a solid price point and understands all the fees they may encounter - then it is time to allow the Forex pair to trade. Having broken through the important psychological barrier of 10.00000 is no small feat for the USD/TRY and if this current price level is sustained without a violent reversal, it could indicate that upwards momentum will continue in the near term. There is reason to suspect price velocity within the USD/TRY can turn volatile at any time, however, and traders need to be ready to handle the moves with take profit and stop loss orders working. The USD/TRY is recommended as a wager for Forex traders who have a lot of experience. New speculators should be careful before attempting to trade the pair. Resistance near the 10.10000 mark may seem like a road too far, but if the pair’s upwards momentum continues to be sparked this value seems more likely than support ratios below the 9.80000 level being touched in the near term. Turkish Lira Short-Term Outlook Current Resistance: 10.04000 Current Support: 9.95000 High Target: 10.13000 Low Target: 9.87000 The USD/TRY has broken through the 10.00000 ratio and its path higher may not be complete quite yet.
Long
by SmoothJB
#USDT Dominance Bearish! ALTCOIN Pump Incoming?First of all this is the first time I am sharing a chart on USDT.D I finally decided to share this strategy with you all:- USDT Dominance is a good index to keep track of Altcoin trades. It's inversely proportional to the growth in ALTCOINS and BTC in general. If USDT.D Pumps it literally means all the money from BTC and ALTCOINS are moving into USDT which eventually leads to corrections in the market. IMHO you must always use this indicator for trading altcoins for the short-mid or long-term trades. Let's get to this Chart:- In this chart, you can see USDT.D is broken down and had a pump to retest the bearish flag. Which leads to some bleed in the market. I am sharing this secret with you because you are a member of this beautiful Cryptorphic Family! I want you to become a better trader and save yourself next time from getting rekt!! Hope you liked it, if you did do hit that like button and share your views in the comment section! Thank you #PEACE
CRYPTOCAP:USDT.DShort
by Cryptorphic
24
💡Don't miss the great buy opportunity in USDTRYTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (9.5217). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDTRY is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 69. Take Profits: TP1= @ 9.6500 TP2= @ 9.7000 TP3= @ 9.8000 TP4= @ 9.9000 TP5= @ 10.0000 SL= Break below S2 ❤️ 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 ❤️
Long
by ForecastCity_World
11