Technique for making money on the USD TRY currency pair

  • Jan 04 2017
Technique for making money on the USD TRY currency pair

Strategy and research analyst on currency pair USDTRY

Forex trading advice on what your plan needs.
The pair US Dollar and Turkish Lira again pleases us with the opportunity to earn. We have repeatedly advised our readers to buy this currency pair, since there is a strong upward trend. All our entries in FOREX with this trading instrument brought us the expected profit. And now, this currency pair has made a new high, not much rolled back and gather strength for a new round of upward. It is nothing to understand in the economic situation in Turkey now, in order to make the right trading decisions. Currency market investors have long understood that lira is much weaker now, and the dollar is gaining popularity again. All of this can be seen easily at the currencies chart in the trading terminal. Therefore, competent investment decision will be again to buy the currency pair and wait for new heights.

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: 3.6030
•    The level of profit and close the position: 3.6500 (470 pips)

Precious metal GOLD 
Possible bullish movement in the breakout of the resistance level 1168

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 1.0330

Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0335

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