Posts tagged 'TRY'

Update 7th FebruaryThe line mentioned in this report held the USDTRY downside and so the underlying tone remained bullish into this week. The Moving Average has, naturally, moved higher and so the same situation applies as we approach this weekend with the key level, on a closing basis, now at 3.7695.A 3rd up week in a... read more

Last week's strong move higher in USDTRY was the 3rd up week in a row - extending the rally from September's low for 2017. Our medium term signals had been bearish since April with the market falling by 16 big figures at the low. But the important aspect of last week's rise was confirmation of a... read more

Last week's strong improvement of 10 big figures, using the 21 week moving average as a platform, has renewed the positive bias in EURTRY that dominated the 2nd half of 2016.For the past 2 months EURTRY has traded around the 13/21 week moving average area but, despite a negative RSI crossover, has not effectively breached it... read more

Our assessment of the trend for EURTRY has been bullish since July 2016 after the spot crossover of the 21 week moving average (a golden cross) confirmed a marginally earlier cross in our RSI indicator.Throughout the latter part of 2016 and the beginning of this year, those averages, and even the 13 week line, have supported... read more

The setback from January's all-time high in EURTRY has reached key levels, and the reaction to those levels is likely to confirm or change the medium term bias. A bullish trend was clear throughout the latter part of 2016 with the strength of the uptrend emphasised by a hugging of the upper band of the weekly... read more

Our view on both EURTRY and USDTRY has been consistently positive since last July’s bullish triggers in spot and RSI.  USDTRY rose more than 30% to last month’s high and EURTRY 25%. These gains have been supported by the 13 and 21 week mvg avgs and, for the most part, have tracked the upper band of... read more

Have you ever wondered which currencies receive the most trading action? The data for the following chart comes from a survey done every three years by the Bank of International Settlements (BIS).Note that trading volume adds up to 200%, because each currency trade has a pairing.Chart courtesy of: DatashownThe Chinese yuan is now the 8th most... read more

3cAnalysis technical signals for sentiment have been bullish for the bulk of 2016. As we approach the end of the year there is no change to that tone. In fact USDTRY price action over the last 6 weeks has seen the upside accelerate to new all-time highs.Positive studies have been dominated by RSI and Momentum that... read more

This week's powerful move to new all-time USDTRY highs above 3.1000 looks incomplete. Prices are now tracking the upper band of a rising weekly Keltner channel and although volatility is likely to remain a constant there is no sign yet of significant exhaustion.Our Trend Table call turned positive in April after an aggressive bounce from this... read more

I wrote on these pages last year the usefulness of Marabuzo lines in riding a bull trend in USDTRY.That bull trend ended at the beginning of this year after the market topped in January at marginally lower levels to Sept 2015 - a negative signal that confirmed an already bearish warning seen in the RSI indicator.However, demand,... read more