EURTRY - Get the carry below the Cloud, stay with the main trend
Weekly:
- Bearish Ichimoku setup, with both Price and averages below the Kumo. Tenkan and Senkou A point down. Tenkan is below Kijun.
- 3 weeks of pull back within the bearish channel ends in a retest to Kijun Sen, which is an important bearish support. This week's Heiken Ashi candle is still green without lower wick, but with a lot smaller body. This also made a haDelta cross below SMA3. Sign for consolidation or for next possible wave down in line with the developing bearish trend.
Daily:
- Ichimoku setup turned to more neutral from bearish as with the swing up Price reached and is enterring the Kumo.
- 5 days ago we had a bearish Heikin Ashi switch, with the Oscillator and haDelta confirmations. Watch haDelta, which may cross down again below zero line!
- More likely we'll see further selling on this cross, but it will stay in a thick Kumo for a while. Anyway, the target for shorts can be the 2,71-2,72 zone (Kijun Sen and Kumo bottom). If it goes below, then it will go a lot lower, targetting 2,55-2,60 again.
Few things I have to add: TRY is really volatile, and their politics sometimes "strange" a bit. But on the other side you have such a positive carry holding Turkish Lira, that can not be ignored in the recent yield desert!
Follow the trend and get the carry as well!
- Bearish Ichimoku setup, with both Price and averages below the Kumo. Tenkan and Senkou A point down. Tenkan is below Kijun.
- 3 weeks of pull back within the bearish channel ends in a retest to Kijun Sen, which is an important bearish support. This week's Heiken Ashi candle is still green without lower wick, but with a lot smaller body. This also made a haDelta cross below SMA3. Sign for consolidation or for next possible wave down in line with the developing bearish trend.
Daily:
- Ichimoku setup turned to more neutral from bearish as with the swing up Price reached and is enterring the Kumo.
- 5 days ago we had a bearish Heikin Ashi switch, with the Oscillator and haDelta confirmations. Watch haDelta, which may cross down again below zero line!
- More likely we'll see further selling on this cross, but it will stay in a thick Kumo for a while. Anyway, the target for shorts can be the 2,71-2,72 zone (Kijun Sen and Kumo bottom). If it goes below, then it will go a lot lower, targetting 2,55-2,60 again.
Few things I have to add: TRY is really volatile, and their politics sometimes "strange" a bit. But on the other side you have such a positive carry holding Turkish Lira, that can not be ignored in the recent yield desert!
Follow the trend and get the carry as well!
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