Trade Idea.
This is a quick shoutout for EURTRY. Given that the pair failed to move higher and reversed back into the channel, we may see the rate sliding a bit lower, maybe even going back to the lower side of that rising channel. Also, the Turkish lira is showing some good performance lately and it may come under buying interest again, unlike its European counterpart. This could lead EURTRY a bit lower. We will be very careful and have our stop-loss in place, in case this suddenly reverses against us.
PLease see the chart for levels, targets and the alternative scenario.
Always have your stop-loss in place.
This is a quick shoutout for EURTRY. Given that the pair failed to move higher and reversed back into the channel, we may see the rate sliding a bit lower, maybe even going back to the lower side of that rising channel. Also, the Turkish lira is showing some good performance lately and it may come under buying interest again, unlike its European counterpart. This could lead EURTRY a bit lower. We will be very careful and have our stop-loss in place, in case this suddenly reverses against us.
PLease see the chart for levels, targets and the alternative scenario.
Always have your stop-loss in place.