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It started with weakness in emerging market currencies (archive for emerging market currencies) then it spread to equity markets and now emerging market yields are under pressure. From commodity exporting economies to energy importers, almost all emerging markets experienced high volatility. Charts are telling us that the high volatility is here to stay and possibly […]
Emerging Market Equities are divided into 4 different geographical categories. Americas, Europe, Middle East & Africa and Asia & Pacific. Tech Charts will cover the equity indices for the markets that are classified below. Americas Europe Middle East & Africa Asia & Pacific BRAZIL BOVESPA INDEX VIENNA SE TRADED INDEX EGYPT EGX 30 […]
Over the past few weeks we have seen stability in the Turkish equity and currency markets. Turkey started outperforming the MSCI Emerging markets index after its massive underperformance. MSCI Turkey/MSCI Emerging Markets ratio rebounded from multi-year support. This is positive news for the Turkish equities and this trend should resume. Meanwhile recovery in the emerging […]
Parabolic moves are common in the financial markets. They are widely participated (though not anticipated). During these type of moves volatility increases tremendously. Similar to a ball thrown in the air, once they run out of energy they fall back with the same speed. Below are four different chart examples with similar price actions. Frome a technical perspective all […]
It is uncharted territory once again for the USD/TRY. For more than a decade USD/TRY (U.S. dollar/Turkish lira) consolidated between 1.75 and 1.15 levels. Cross rate managed to stabilize for more than a decade after the inflationary years of 1990s. It was mid-2011 when the USD/TRY breached the decade-long resistance at 1.75 levels. First the cross […]
Earlier in May I’ve updated two charts on the emerging market currencies USD/INR (Indian Rupee) and USD/TRY (Turkish Lira). Both suggested strong USD in the short/medium-term. We are seeing clear breakouts from consolidation ranges and weakness in major emerging market currencies.
1.75 levels has been long-term support for the USD/TL. In the last quarter of 2011, cross rate breached above 1.75 levels and since then price has been consolidating above this critical technical support level. Over the past week, cross rate rebounded from the horizontal support to test the year-long trend resistance at 1.80 levels. Breakout above 1.80 can […]
It’s been an exciting period watching global economies constantly trying to devalue their currencies with the aim of increasing demand for their goods and services. Financial media is covering this under “currency wars”. Weak currencies are good for economies because countries will be able to export more… Though let’s not forget that there is a fine balance […]
Long-term charts are usually self-explanatory. They lay out the big picture in a clear-cut way. The below long-term chart (decade-long) shows U.S. dollar vs. Turkish Lira. From 2002 to 2011 USD/TL moved between 1.15 and 1.76. This was a wide trading range with several of volatile swings. In the last quarter of 2011 there has been a major […]
Since April Tech Charts frequently updated the USD/TRY analysis and drew attention to a weakening Lira against the U.S. dollar (Apr 22, May 13, May 28, Jun 20) . Breakout above 1.83 levels was followed by a sharp rise towards 1.92 levels which was also breached on the upside after a short consolidation. Latest breakout from the flag […]
