EURTRY trade ideas
The Turkish lira is struggling to defend itself against the euroThe Turkish lira is struggling to defend itself against the euro but in recent sessions, its seen slightly rebounding. The reason for the rebound was the recently rolled out stimulus measures to cushion the blow of COVID-19 to the Turkish economy. The number of coronavirus cases in Turkey recently saw a big spike, recording more than 500 new cases just yesterday. The massive surges raise the number of infections to about 2,433 as of writing. While the death toll in Turkey reaches 59. Turkish Health Minister Fahrenttin Koca said that among the 5,000 plus tests that were conducted, it was found that about 561 people were infected by the deadly virus. While in Europe, leaders from the region ditches austerity to help fight the pandemic with full force in terms of cash. A French official said that the countries in Europe are failing to communicate through the response measures, this leaves space for vulnerability for the single currency.
EURTRY 7.10 is accepted as a resistancePrice has been trying to break 7.10 level and fail since last week.
If Euro weakens EURTRY will the first pair going down hard. We'll try to capture this potential 900 pips to 6.96 level
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Good luck
NOTES:
- All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol.
- We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade.
- Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader.
- Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.
Best Regards.
bullish hidden divergenceas you notice K the hidden divergence achieved on RSI and Stoch RSI, that is supported by general situation now especially the Emerging Markets
EURTRYPrice struggling to push high nor low. We moslty get a sharp mover after this battle of Bulls and Bears. getting ready to be the winners.
right angled trianglewith the first chance for eru\usd to go up <
eur\try will go up also but it will be as so fast as it will not do any retest
if eur goes upif the eurusd goes up again my goal will be at 7.05 as long as the try doesnt get better
EUR/TRY short/sell idea. almost 3400 pips move...in the name of ALLAH who is most merciful and the master...
head and shouldersjust observe that beautiful pattern now >
i thought we all know when we should sell
Shorts favoured ..Pretty simple setup in view after above ATR friday close , sell on break below support towards retest of 20/50 SMA ,
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EURTRY - DAILY TECHNICAL ANALYSIS - FOREX - EUR TRY EURTRY has seen a very long and very nice up trend. Not long ago we saw some break down in that up trend. As I see it, price action looks to give a 'failure to continue trend' signal as it attempted a short up trend here recently. Red line was the optimal entry, I doubt we will see that level again but we may and in my opinion its still not too late to find a short position. If I were short I would take profits at lines bellow entry with stop at previous high.
Clearly not financial advice.
