EUR/TRY

Short Term Sell Levels Based On ZigZag Indicator:



TP: 2.795

For me, though, fairly long-term range in play ... :



... which means sell at the top of the range. I wouldn't buy at the bottom in this particular case due to negative swap associated with a long (FXCM currently quotes ... wait for it ... -15.38 to buy, and that is not a typo ... ; positive swap is now 3.63 on the sell side ... .)

I would note that this is what happens if you carry past Wednesday, which is when they assess rollover for the weekend in addition to that day's rollover, so you get a triple bonus if you're on the positive side.

Today's swap is a more modest 1.09 ... .

Ugh. This kinda news doesn't help out much .... . http://www.bloomberg.com/news/2014-0...lds-rates.html

On the other hand, it offers further selling opportunities ... .

The range between approximately 2.93 and 2.81 remains pretty much intact:



Right now price is at 2.8910, so a new selling opportunity could be at hand; my sell zone will be pretty much anything between 2.915 and 2.930.

That being said, some caution might be in order; the Lira has been reactive to U.S. tapering news in the past and with the final bit of QE tapering around the corner, it may push out of this range, although Euro weakness is likely to cap further pair strength.

The pair remains rangebound between approximately 2.92 and 2.86, with possible sell areas around 2.918 and 2.901:



Currently, price is approaching the .50 Fib for the range between the 9/7 low and the 10/15 high, so the .50 level may bear watching ... . Me personally, I'm going to wait for another opportunity to short toward the top of the range, rather than entering here on the notion that the pair is going to continue lower.

Now that my broker has shut down trades in the Ruble (how about that for fireworks!), I'm back to looking at other carry trades, one of which used to be this pair.

Obviously, however, this pair is as out of control as the Ruble is. Generally, I looked to short this pair in the range it previously occupied between 2.92 and 2.86, but that has been blown out of the water in recent days. It is currently bullish, but I am going to wait for it to possibly fall into another range and then short from there. Swap on the long side is onerous ... .

- We could see 3.3070 or 3.2675

- Looking to enter long @ 3.6317 or more @ 3.5961 with targets @ 3.6674 and 3.6759 respectively.

what do you think is it not the oportunity to sell? Only one thing I do not like is that 92 % short on myfxbook outlook