USD/TRY: there may be a correction

USD/TRY: there may be a correction

2019-11-11 • Updated

Trade idea

SELL 5.7980; TP1 5.7700; TP2 5.7425; SL 5.8060

USD/TRY ran into the resistance of 5.83. Traders are taking profit and readjusting positions after a very big advance that happened on Monday. On the D1, a “hanging man” candlestick was formed. This allows us to expect correction down, at least to 5.77 (yesterday’s low) and probably to 5.7425 (Oct. 2 high, 100-period MA on the H4). The natural trigger to enter a sell trade will be the decline below 5.80 (50-period MA on the H4). 



What to trade on May 16-20?
What to trade on May 16-20?

Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!

What to trade on May 9-13?
What to trade on May 9-13?

It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!

Latest news

Walmart earnings outlook
Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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