The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
How about USD/TRY?
2019-11-11 • Updated
SELL 5.28; TP 5.19; SL 5.31
BUY 5.37; TP 5.50; SL 5.34
This week’s problem is that many pairs have already made big moves and yet we know that there will be a news trigger later today as the US releases the Nonfarm Payrolls data at 15:30 MT time. It looks like USD/TRY has some potential for trading and we can identify good levels with technical analysis.
The general downtrend continues, although the momentum declined and the correction up should be more significant. At this point, the pair this has a short-term opportunity to move both down and up, as it's right in the middle between 5.52 and 5.1250. The last candlesticks on the daily charts have bigger upper wicks. This is a slight negative sign.
On H4, we see a consolidation in a triangle. A breakthrough will take place today. The triangle allows expecting 2 scenarios depending on the direction of the breakthrough so we give 2 ideas.
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
How to understand if an economy is accelerating or decelerating? What are the indicators that can guide us in this interpretation? One of the ways in which we can assess this situation is precisely the household consumption, which fundamentally refers to…
Credit cycles (or leverage cycles) represent moments in the economy of a country when families and companies get indebted, in order to invest or to spend in different segments, which ends up positively influencing the level of the general economic…