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Wednesday, January 8, 2014

USD/TRY - We are close to an important top


(Please click on the charts to see them better)
USD/TRY:
 
John Taylor asked if I would take a look at USD/TRY, which I of cause will be happy to do.
 
We are in the very last part of the rally of the 1.3851 low from November 2010. The question is, whether we need one last high closer to 2.21 or we already has seen the top, with the test of 2.1948. I think we need one last high closer to 2.21 before the top is firmly in place and from here we should see a powerful decline below 2.1573 and more importantly below support at 2.1110 which will confirm the top for a decline towards at least 2.04 and possibly lower. 

4 comments:

  1. Thanks for that EWS lets look for that top

    AudNzd could be ready soon trying hard yesterday but couldnt push up 126ma catching up fast on 30min and 15min going to go one way or the other
    Best Regards jt

    ReplyDelete
  2. Hi!

    what you think about this my forecast about euraud?

    pic.twitter.com/1xvbEfnZjT

    ReplyDelete
    Replies
    1. EWS-

      I suspect on EZ we need to turn focus on upside...

      Delete
    2. Hi Zink,

      You have a valid Count. Stay with it and enjoy the ride.

      Kind regards
      EWS

      Delete