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EUR TRY

Reports for the EU member states’ GDPThe pair failed to break out from a major resistance line, sending the pair lower towards the nearest support line. Most reports for the EU member states’ GDP data will be published today, July 31. Yesterday, the EU’s largest economy already had its GDP results which disappointed investors. Germany’s economy for the second quarter of the fiscal year declined by 10.1%. Expectations for Q2 figures for France, Italy, and Spain’s economic performance were all double-digit declines as well. Spain is expected to suffer the worst decline among the three EU countries who will report today with -16.6%. Meanwhile, France and Italy’s forecast for its second-quarter GDP were -15.3 and -15.0, respectively. Also, the European Union will be posting its bi-monthly report for GDP, and expectations for the figure was at -11.2%. These data will hurt the single currency in the short-term. For the long-term outlook, the European region is expected to recover in Q3 and Q4.
Short
by Financebroker
EUR / TRY 7/6/2020Welcome to this analysis on Euro / Turkish Lira. EUR / TRY has been in a massive macro uptrend since 2019, It paused around the highs of the previous uptrend cycle of 2018 at 7.850. Since the 7th of May, the market has gone sideways, it had a pullback to 7.35, re accumulated there, and bounce back to the previous high. Looking at the structure, it looks like it has made a Symmetrical triangle pattern which can also be a handle of a Cup And Handle continuation patter if price closes above the previous high at 7.85. The target of the triangle is at 7.9 and the target of the Cup And Handle is around 8.25. The 2 levels of resistance above the current price are the previous high at 7.85 which used to be a daily close high of the 2018 cycle as well and above that the psychological 8 level which is also the wick highs of 2018 cycle. This trade idea has 2 rewards to risk if it hits the triangle's target and 5.5 R if it hits the target of the Cup And Handles. Good luck trading.
Long
by Trader_Shayan
2
EURTRY waiting for a trigger to sellon DAILY: EURTRY is still sitting around a strong supply zone and All-Time-High so we will be looking for objective sell setups on lower timeframes. on H1: EURTRY broke below our red trendline but we didn't sell yet, as we always wait for a momentum candle close below the last swing for extra confirmation. meanwhile, until the sell is activated, EURTRY would be overall bullish and can still test the upper supply zone before going down.
Short
by TheSignalyst
Don't miss the great buy opportunity in EURTRYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (7.4706). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURTRY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 71. Take Profits: TP1= @ 7.5998 TP2= @ 7.6507 TP3= @ 7.8517 SL= Break below S2
Long
by ForecastCity
23
Remittent 10-Year Journey of Turkish Banks #1 (Akbank) Akbank, one of the largest banks in Turkey have devalued -86.18% in last 10 years against United States Dollar . Even though most of the Turkish Banks are listed cheaper than a bottled of water, why foreign-investors still keep liquidating their positions? There have been many political, economic and geopolitical changes since 2010 in Turkey. Whilst these have been never seemed an issue by Turkish people, liquidation of foreign investment capitals from Turkish Industries proves that we are getting closer to the light at the end of the tunnel. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
BIST:AKBNK
by UnknownUnicorn2854563