maccabean
Short

Trade of the day. Sell EURTRY on MACD crossover

FX:EURTRY   Euro Fx/Turkish New Lira
Thoughts on Chart.

Although after a period of consolidation the price can go either direction, my bets are on a move down. Here are the reasons.
1. MACD crossover.
2. Downwards trending 100 MA.
3. All factors that have damaged the price have already been factored in. Unless war breaks out, I'd say a drop is likely.
4. Buying Turkish Lira pays very well. Great overnight swap.
5. Price has seems to hit resistance at 3.35

Perhaps consider shorting once price drops below support at 3.2785
DownUnder
9 months ago
good call ;-)
Reply
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