Posts tagged 'USDTRY'

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

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

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

.....USDTRY fell 27 big figures from this year's top with the steady decline highlighted by a corresponding negative trend in RSI.In fact a move in RSI below it's moving average line warned of a change in investor sentiment well before confirmation the spot price. This bearish divergence was confirmed by January's peak being lower than last... read more

I have written before on the USDTRY rise that has yielded more than 60-big figures since November’s base, and the influence that Marabuzo lines have had on trading during that time.These can be seen on the chart below marked in red.That situation continues with the weekly Marabuzo line created 9 weeks ago acting as a platform... read more