USD/TRY is volatile

USD/TRY is volatile

2019-11-11 • Updated

Trade ideas

BUY 5.7260; TP 5.7450; SL 5.7200

SELL 5.6990; TP 5.6570; SL 5.7050

USD/TRY formed a bullish gap on the D1. It happened on the increase in the market’s risk aversion. Notice that, all in all, the pair’s consolidating within a triangle and has space to move inside it. The advance above today’s high at 5.7250 will open the way to 5.7450 (100-period MA on H4 and the top of the triangle). The decline below 5.70 will make the pair move towards the lower border of the pattern. The target for selling will be at 5.6570 (200-period MA). 

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