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USD/TRY and EUR/TRY 12 replies

Exotics (USD/TRY, USD/ZAR, USD/MXN, and others) 2,321 replies

Lets try something new CUT OFF DATE 5 replies

USD/TRY fundamental analysis 1 reply

Anyone try using XAU/USD - XAU/EUR as proxy for EUR/USD? 4 replies

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USD/TRY

Quoting samet
{quote} what th f what u doing aussie, come heart attack
had a stroke at christmas don't need heart attack mate account is safe and the swaps are working fine
people leave, but this thread will go on for ever
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Turkey Roasted: Market Fears The Worst As Lira Plunges, Yields Surge Amid U.S. Sanctions
Edited
Turkish Minute
Aug 2
$400k in Fines for Overcharging Tourists
Aug 1
Banks propose rule to speed up restructuring of company debt in Turkey
Turkey’s exports to EU countries grew by 6.4 percent in June
July 31
According to commercial code, most Turkish firms are bankrupt: commerce chamber head
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Edit: Time shown is Central Standard Time
Is it safe to short this pair. Asking for a friend.
I am no expert re this pair but I do have many trades running...Currently sitting in my hands. This could go anywhere. I am Budgeting for going up to 6 ....My Crystal Ball is no help.
R



Quoting 2dollardog
Is it safe to short this pair. Asking for a friend.
Ronnie Renko
Quoting Ced74
I am no expert re this pair but I do have many trades running...Currently sitting in my hands. This could go anywhere. I am Budgeting for going up to 6 ....My Crystal Ball is no help. R {quote}


Ty, sir. Been waiting, too. Risky.
Closed my shorts on SL Lets see what inflation data brings to us
Inflation higher than expected, but does not appear to have affected price.
https://www.aa.com.tr/en/economy/tur...n-july/1221500
Quoting MisterWhite
Inflation higher than expected, but does not appear to have affected price.
Yearly inflation is higher..but monthly is lower than market expectations..

Also there is no concrete results from Singapore FMs meetings..so situation is mixed with more upside risks..
make your own analysis and decisions..just giving some perspective..
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http://m.bianet.org/english/world/19...uctive-meeting

Pompeo: It is a demonstration that we are very serious

Çavuşoğlu: Everything cannot be resolved in one meeting


http://m.bianet.org/system/uploads/1...iginal/aa1.jpg
Pompeo, Çavuşoğlu: It Has Been a Constructive Meeting

After the US has announced its decision to impose sanctions on Turkey, the first face-to-face meeting between the countries has been held by the US Secretary of State Mike Pompeo and the Minister of Foreign Affairs Mevlüt Çavuşoğlu. Pompeo and Çavuşoğlu have defined their meeting as “constructive.”


İstanbul - BIA News Desk
03 August 2018, Friday 10:11


* Photograph: AA - Archive

Click to read the article in Turkish

After the US announced its decision to impose sanctions on Turkey in the wake of the US Pastor Andrew Craig Brunson not being released from house arrest, the Minister of Foreign Affairs of Turkey Mevlüt Çavuşoğlu and the US Secretary of State Mike Pompeo met in Singapore today (August 3).
CLICK - Sanction by US Against Turkey's Minister of Justice, Minister of Interior
Çavuşoğlu and Pompeo met within the frame of the 51st Foreign Ministers' Meeting of the Association of Southeast Asian Nations (ASEAN) held in Singapore. The bilateral meeting, which started at 7.30 a.m. local time in Turkey, lasted for around an hour.
The Spokesperson for the US Department of State Heather Nauert made a statement after the meeting and said, "They spoke about a number of issues, and had a constructive conversation. They agreed to continue to try to resolve the issues between our two countries."
Pompeo: It is a demonstration that we are very serious

The US Secretary of State Mike Pompeo also made a statement as he arrived in Singapore and touched upon the the sanctions to be imposed by the US on the Minister of Interior Süleyman Soylu and the Minister of Justice Abdülhamit Gül.
Referring to the sanctions, Pompeo said, "I hope they will see this for what it is, a demonstration that we're very serious. We consider this one of the many issues that we have with the Turks."
Pompeo also added, "Brunson needs to come home. As do all the Americans being held by the Turkish government. Pretty straightforward. They have been holding these folks for a long time. These are innocent people. We are going to work to see if we can find a way forward; I am hopeful that we can."
Çavuşoğlu: Everything cannot be resolved in one meeting
make your own analysis and decisions..just giving some perspective..
Quoting 2dollardog
Edited Turkish Minute Aug 2 $400k in Fines for Overcharging Tourists Aug 1 Banks propose rule to speed up restructuring of company debt in Turkey Turkey’s exports to EU countries grew by 6.4 percent in June July 31 According...
Turkish Minute is not independent and reputable media. In fact, they are terrorists who attempt to strike in the country and escape from the country.

Yes, the press is not perfect in Turkey and they are having a hard time like USA. if you are trading, you should follow institutions like Reuters or Bloomberg.

What kind trader follows this newspaper ?
Quoting kingofmicro
{quote} Turkish Minute is not independent and reputable media. In fact, they are terrorists who attempt to strike in the country and escape from the country. Yes, the press is not perfect in Turkey and they are having a hard time like USA. if you are trading, you should follow institutions like Reuters or Bloomberg. What kind trader follows this newspaper ?
I was going to thank you for the information, until you posted:

"What kind trader follows this newspaper?"

Thanks for the insult !

It's not about *following* any newspaper. It's about determining sentiment of other traders. Who reads these papers? *Somebody* reads them because they are published. No? I don't care who reads them. Maybe you care who reads them, but I don't care what you care about. I care about what the market is doing. I'm not being offensive. I'm being a trader!

The truth is, when it comes to fundamentals in the market, personal opinions don't matter. Truth doesn't matter.

What if Trump tweets that he's going to war with Turkey? Calm down. I'm not issuing a threat or criticizing you or saying anything personal about you. I have NO issue with Turkish people. For god's sakes, we're all people!

THINK with me for a minute. What if Trump said that he was going to attack Turkey, but secretly had no plan to attack Turkey? He tweet that he's going to attack Turkey, but he doesn't tell anyone that it's a lie.

Do you think the market would react to the tweet? Or would they take a chance and bet against him attacking Turkey?

They would trade the lie !!!!!!!!!!!!! And I'd be foolish to trade against it.

There's a reason the majority of traders lose money in the market. What we are to do in order to trade is BACKWARDS to our personal and emotional involvement in live.

I'M OUTTA HERE.

Trade safe.
Quoting 2dollardog
{quote} I was going to thank you for the information, until you posted: "What kind trader follows this newspaper?" Thanks for the insult ! It's not about *following* any newspaper. It's about determining sentiment of other traders. Who reads these papers? *Somebody* reads them because they are published. No? I don't care who reads them. Maybe you care who reads them, but I don't care what you care about. I care about what the market is doing. I'm not being offensive. I'm being a trader! The truth is, when it comes to fundamentals in the market,...
Dude you got me wrong. This is not insult, only information.

I can share what the some Turkish media writen all day. But they are not independent and biased. if we look at what they say, we always should to sell dollars. But usdtry is now 5 lira.

The same thing applies to "Turkish Minute", they are Gulen's media.

I am not a politician, I am just a trader - actually hate politics too. if I want to follow fundamentals I only follow reliable sources. Others blur the vision.
This is just a recommendation and is true; we're all people.
Thanks
Quoting kingofmicro
{quote} Dude you got me wrong. This is not insult, only information. I can share what the some Turkish media writen all day. But they are not independent and biased. if we look at what they say, we always should to sell dollars. But usdtry is now 5 lira. The same thing applies to "Turkish Minute", they are Gulen's media. I am not a politician, I am just a trader - actually hate politics too. if I want to follow fundamentals I only follow reliable sources. Others blur the vision. This is just a recommendation and is true; we're all people....
Never trust one source, not even two.. read everything you can and come to your own conclusions.. I fight with Bloomberg all the time, Trump this Trump that, they are as bias as they come.. I still read their news though, as I learn what all sides are thinking when you put the big picture together..

But yes you are correct, trade what traders are thinking, not necessarily what the news is telling you..
A genius is born every minute, me I am lucky if my socks match.
A Focus on the Dollar Index (DXY):

For the moment USDTRY is hanging on the price of the dollar. DXY Daily reflects a doji. You can bet many players will use this signal. (The blue is 50 moving average and red is 200 moving average on this clip of a daily chart DXY.


DXY is doji on the daily, because it hit the 200 moving average as resistance on the weekly. Why the 200 moving average? Banks, Larger institutions, and large swing traders use the 200 moving average as support and resistance, especially on these larger time frames. They took profit at that point, most likely. According to the charts - including the monthly chart - the DXY maintainsa bullish bias. Therefore, one would assume DXY will retreat and return.




But wait. Not so fast on a bullish dollar ... Why?
Because Trump doesn't like a strong dollar. He has intent to influence the Fed on this matter.





But the Fed has always been independent of the presidency and Trump's actions are unprecedent. Many claim is the behavior of a banana republic. So, should we disavow the president's influence on the dollar? After all, his statements move the DXY but only temporarily. Not so fast on that thinking according to many experts that have weighed in on the matter. Their conclusion: He can and he probably will.

The Feds actually made statements contrary to Trump's tweets. But in the end ..... They caved to Trump
White House Looms over Fed Rate Decision

In the end? This probably means for more ranging. If the DXY SHOULD pass that 200 moving average on the weeky, a trend trade matched with a coordinated FX pair is highly risky because.

Trump will make a statement in order to bring down DXY yet again. That much you can count on. But when? Who knows.

TRADE SAFE. Use a stop.
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Quoting blackwinter
{quote} Vaoww..something is happening in South Africa.. i dont know what is it?? God has protected me.. i was out of trade.. It was still moving up after my screenshot.. Edit: probably this has caused.. https://www.bloomberg.com/news/artic...d&cmpId=google {image}
Im very happy to see trend following trader here
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