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USDTRY Technical Analysis

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As some of you may know, I have been trading USDTRY for months now on my Oanda account. I will be creating a new topic here dedicated to USDTRY because I see another long-term opportunity right now.

Holding USDTRY sell trades pays a high interest rate daily. So selling this pair takes precedence. That way, even if a trade doesn't go the way you want right away, at least you will profit daily from the interest.

There is a weekly trend line that has been broke and retested. Yesterday's daily candle shot up to this weekly trend line resistance level and stalled. So now we have a daily candle with a large upper tail, which is bearish, and we have a weekly trend line that has been broke and retested, which is very bearish.

USDTRY is currently 5.8212 and I am expecting this to fall as low as the 5.50 area and possibly even to the 5.25 area.

Linkback: https://www.forex.zone/technical/11/usdtry-technical-analysis/2493/
#1 - August 27, 2019, 11:12:59 AM
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aizafx

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I don't know what happens with USDTRY, I see this pair move strongly and figure out bulls candle with long-tail as a pin bar, spread on this pair included high in my broker, if hold sell position indeed will get positive swap, but still worried if likely this pair move bullish again, hence will dragged loss floating 
#2 - August 27, 2019, 01:05:34 PM

Atminehomo

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USDTRY monthly already in the resistance area is likely to go down, at tf weekly forming double top and daily forming compression sell, we can see the reaction of prices at tf h4 and h1 a convergent pattern of descending indications
#3 - April 28, 2020, 05:57:29 PM
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Lolek555

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USDTRY

this pair is exotic but it is in interesting place . supply level is located at 6.8711 and is holding for now. if the selling accelerate the pair could reach 6.3880. 
Second scenario is that 6.8711 will break to the upside then the next target is 7.28 . 
#4 - July 25, 2020, 06:56:09 PM
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Torroco

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Usdtry Explanation of the daily timeframe: for yesterday's daily candlestick a bullish doji was formed, our buy opportunity is still wide open Explanation of timeframes H4: 7.77 and 7.73 are the prices of our reference range for our breakout and don't forget to break the body Explanation of the M15 timeframe: m15 the trendline is still pointing upwards and don't open positions just yet if the signal isn't there
#5 - October 06, 2020, 03:29:34 AM
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Torroco

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Usdtry Explanation of the daily timeframe: yesterday's daily candle form is strong bullish where we will continue to rise Explanation of the H4 timeframe: the price ranges for today's SR are 7.88 and 7.84 as reference lines M15 timeframe explanation: currently the uptrend chart is still high and there can be a moment to buy
#6 - October 08, 2020, 05:04:09 AM
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