Day trading strategies on USDTRY 10-18-2016 by AzaForex forex broker, many useful tips for successful foreign exchange trading

Expert suggestions that make forex work for you.
Turkish Lira exchange rate falls lower and lower against the US dollar. This movement has no end nor edge. Now the price on the chart of the currency pair again came to its maximum. If we look at the history of the movement of this currency in the forex market, we will see that this is a new peak for trading the dollar against the lira. Usually, when the stock exchange price makes a new high or low, the price received new impetus and continues to move with acceleration. Any constraints and resistance levels on the chart is not visible. For this reason, a further increase of this currency pair will entirely depend on the mood of traders and investors. Given that the spreads on this currency pair is slightly higher than  currencies, beloved by traders, a worthy goal of about 800 items covers all possible risks. Therefore, in case of the breakdown of the resistance level and a new high, we go long.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 3.1150
    The level of profit and close the position: 3.2000 (850 pips)

Metal GOLD 
Possible bullish movement in the breakout of the resistance level 1265

Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.2300

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9900

Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0960