Trade Alert
For those, who like to keep an eye on this currency pair, this could play out nicely.
There are a few tentative trendlines on the chart, that could actually be good indicators for possible entries. If the first, steepest, support line does not hold, then we could see a drop down towards the next upwards moving support line and so on (please see the levels and lines on the chart).
On the other hand, if the first steep support line holds, then a move higher and a break above the 4.68, could open the path towards previous highs. But if we see such a move, then we suggest to stay careful, as we would question the potential for USDTRY to reach those highest points again. We would have to evaluate the pair at that specific time.
Don't forget your stops.
For those, who like to keep an eye on this currency pair, this could play out nicely.
There are a few tentative trendlines on the chart, that could actually be good indicators for possible entries. If the first, steepest, support line does not hold, then we could see a drop down towards the next upwards moving support line and so on (please see the levels and lines on the chart).
On the other hand, if the first steep support line holds, then a move higher and a break above the 4.68, could open the path towards previous highs. But if we see such a move, then we suggest to stay careful, as we would question the potential for USDTRY to reach those highest points again. We would have to evaluate the pair at that specific time.
Don't forget your stops.