Money Rush with USD TRY Currency Pair

  • Dec 15 2016
  • by
  • Analyst AZA
Money Rush with USD TRY Currency Pair

Strategy and research analyst on currency pair USDTRY

Tips and tricks for better foreign exchange trading.
In the Forex market today only few currencies can show the strength. US dollar against many currencies began to strengthen. Turkish Lira is again under pressure. More recently, we have been posting recommendations to buy the currency pair, and we, and our traders, who use our tips in trading, earned pretty good at this currency pair. After all, every time it makes a new high and after a previous level was just flying up with the huge volatility. Also now traders with bullish sentiment do not forget this currency pair. Pressure remains strong, and now our goal is not beyond the peaks and on the border of the last vertex. Given on the currency chart that the pair could quickly overcome the distance  of more than 500 points, we consider this trade as a good investment opportunity in the short term. After all, not every pair can boast of such an abrupt change in prices. Some currency pairs are long in the lateral movement or change the price of not more than 100 points. In this case, we can see the opposite picture. THis is the good growing trend with great profit potential.

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: 3.5400
•    The level of profit and close the position: 3.5950 (550 pips)

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Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 1.0250

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