EUR/TRY

- TRY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	EURTRY
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EUR/TRY - Daily - Technical analysis published on 08/05/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

61%

33%

My opinion

Bullish above 8.0568 TRY

My targets

8.4463 TRY (+0.0746)

8.6968 TRY (+0.3251)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/TRY as long as the price remains well above 8.0568 TRY. The buyers” bullish objective is set at 8.4463 TRY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.6968 TRY. If there is any crossing, the next objective would be the resistance located at 9.0863 TRY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.9

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

EUR/TRY rating 8.3717 TRY. On the day, this instrument gained +2.25% and was traded between 8.1512 TRY and 8.3827 TRY over the period. The price is currently at +2.71% from its lowest and -0.13% from its highest.

8.1512

8.3827

8.3717

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of EUR/TRY in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:

Moving Average bearish crossovers : AMA20 & AMA50

Type : Bearish

Timeframe : Daily

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : Daily

Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : Daily

Bearish price crossover with Moving Average 100

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 50

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 100

Type : Bearish

Timeframe : Daily

An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is oversold : under 20

Type : Neutral

Timeframe : Daily

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

RSI indicator is back under 50

Type : Bearish

Timeframe : Daily

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : Daily

Ichimoku : price is under the cloud

Type : Bearish

Timeframe : Daily

SuperTrend indicator bearish reversal

Type : Bearish

Timeframe : Daily

MACD indicator is back under 0

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : Daily

Williams %R indicator is back under -50

Type : Bearish

Timeframe : Daily

The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Downside gap

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	7.3959	7.7729	7.9252	8.3717
Change (%)	-11.66%	-7.15%	-5.33%	-
Change	-0.9758	-0.5988	-0.4465	-
Level	Intermediate	Intermediate	Major	-

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	6.0450	6.1211	6.1730	6.2491	6.3010	6.3771	6.4290
Camarilla	6.1898	6.2015	6.2133	6.2250	6.2367	6.2485	6.2602
Woodie	6.0330	6.1151	6.1610	6.2431	6.2890	6.3711	6.4170
Fibonacci	6.1211	6.1700	6.2002	6.2491	6.2980	6.3282	6.3771

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.2344	3.3000	3.3474	3.4130	3.4604	3.5260	3.5734
Camarilla	3.3637	3.3741	3.3844	3.3948	3.4052	3.4155	3.4259
Woodie	3.2253	3.2955	3.3383	3.4085	3.4513	3.5215	3.5643
Fibonacci	3.3000	3.3432	3.3698	3.4130	3.4562	3.4828	3.5260

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	7.1663	7.4168	7.8063	8.0568	8.4463	8.6968	9.0863
Camarilla	8.0198	8.0785	8.1371	8.1958	8.2545	8.3131	8.3718
Woodie	7.2358	7.4516	7.8758	8.0916	8.5158	8.7316	9.1558
Fibonacci	7.4168	7.6613	7.8123	8.0568	8.3013	8.4523	8.6968

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	56.13
MACD (12,26,9):	0.0208
Directional Movement:	10.2431
AROON (14):	7.1429
DEMA (21):	7.9379
Parabolic SAR (0,02-0,02-0,2):	6.1971
Elder Ray (13):	0.4055
Super Trend (3,10):	6.8842
Zig ZAG (10):	8.3713
VORTEX (21):	1.0384
Stochastique (14,3,5):	59.12
TEMA (21):	7.8914
Williams %R (14):	-0.91
Chande Momentum Oscillator (20):	0.4826
Repulse (5,40,3):	1.5506
ROCnROLL:	1
TRIX (15,9):	0.1374
Courbe Coppock:	1.95

MA7:	7.9520
MA20:	7.9164
MA50:	7.7773
MA100:	7.6062
MAexp7:	7.8469
MAexp20:	7.8880
MAexp50:	7.7795
MAexp100:	7.5709
Price / MA7:	+5.28%
Price / MA20:	+5.75%
Price / MA50:	+7.64%
Price / MA100:	+10.06%
Price / MAexp7:	+6.69%
Price / MAexp20:	+6.13%
Price / MAexp50:	+7.61%
Price / MAexp100:	+10.58%

Quotes : 2020-08-05 14:46:59 - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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