Need to know advice for all new traders in the foreign exchange market.
Turkish lira weakens and weakens in respect not only for Euro, but also to the USD in the forex market. We have already made the recommendation to buy the currency pair. Our target have been achieved, investors and traders who use our trading recommendations in its trading may take profit and ensure the reliability of our advice and signals. For a long time, we provide free of charge advises for both beginners and professional traders to-date Forex analytics, as well as analysis on the movement of shares in the stock market and commodity futures.
Now on the chart of the currency pair we observed approaching the prices to a new peak. Earlier, the breakdown of the historical maximum of currency was accompanied by a good volatile movement that helped to make good money with our followers. Here and now, it is possible to count on a good profit after hitting 3.6850 resistance level. Therefore, if the price will continue to move further upwards, we enter the market with a long position and the goal of 500 points.
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: 3.6850
• The level of profit and close the position: 3.7350 (500 pips)
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