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USDTRY Analysis Turkish Lira aginst US Dollar has been running between the monthly demand zone (2.7974-2.5604) and monthly resistance area. As i expected, we had 2 nice reactions both from demand and resistance zones. Soon after consuming either of the monthly areas, we may see an abrupt and impulsive move whichever zone breaks first, probable outcome being upwards. Currently, Price just created a new daily supply zone above (3.0119-2.97204) and boucing out of the support zone (2.93236-2.89569). We may see some selling pressure coming around daily supply zone and we may have a small consolidation between those areas. Under these circumstances, we can practice 2 scenarios; 1- Black: We can confirm our entries on lower timeframes and look for selling opportunities inside of the daily supply zone if emerges . 2- Red On the other hand, if daily supply zone got broken upwards, we would again be willing sellers since we will end up being in the monthly resistance area. tradewithcan.blogspot.com.tr twitter.com
by Can.Yildirim
EURTRY AnalysisWe have tested monthly demand area (3.0824-2.8456) once and then, as we expected we got a nice selling reaction from monthly resistance area (3.4791-3.3764) Right now, price aciton is telling us that we may break daily supply or weekly demand zone easily by virtue of spending too much time to form both of them. But yet, if price reaches weekly demand zone, i would expect at least price to form some kind of a consolidation before breaking it downwards. I prefer to sit on my hands and be waiting some newly created opportunities to come up. tradewithcan.blogspot.com.tr twitter.com
by Can.Yildirim
AUDUSD AnalysisAUDUSD may give us a buying opportunity that can emerge once in every 2 or 3 years. After selling pressure and losing value for 5, two things happened at the same time: 1- We have seen Monthly Trendline reached and had a reaction upward fomr here. 2- Also, the price managed to break above 0.7385 level and has activated monthly demand zone(0.72425-0.68270) We are waiting for possible new daily demand levels to be formed and then we will be loking for buying opportunities to hold. tradewithcan.blogspot.com.tr twitter.com
by Can.Yildirim
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GBPJPY SHORTGBPJPY is expected to sink now. There are many reason why we feel it may sink. * Abandoned baby in daily Chart . * To sink and come near 14.14 levels * Stoch RSI (3,3,14,Close) is un clear. * RSI (14,CLOSE) Is also of the view it may sink. * CCI (20,CLOSE) Is also sinking. Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our sell call shall be from sell bellow:155.82 SL: 156.48 Tgt 01: 154.14, Tgt 02:153.40, Tgt 03:151.14. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Short
by ajithchand-bhandaari