USD/TRY is returning lower

USD/TRY is returning lower

Trade ideas

SELL 5.6400; TP1 5.6165; TP2 5.5900; SL 5.6550

BUY 5.7100; TP 5.8000; SL 5.6800

USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1. The daily Awesome Oscillator is going down, so it’s natural to expect the continuation of the move down towards the July lows and the 200-day MA in the 5.5890/5.5770 area. The 50-day MA may at 5.6520 provide some support, so our short entry is located below this line. On the other hand, the return above 5.70 is needed for another round of the greenback’s strength. 

USDTRY.png

Similar

USD/ZAR: there’s more to come

USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.

Latest news

USD/ZAR: there’s more to come

USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera