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History repeats for USD/TRY yet again

FX:USDTRY   U.S. Dollar/Turkish New Lira
174 0 5
History repeats for USD/TRY             yet again, gap up opening likely to breach and sustain above 2.9939 – One touch binaries to leverage returns:

As anticipated, bullish effects resume after testing trendline support at 2.9375 levels.

For more reading, please follow the below weblink that would direct you to our previous analysis on this pair:

http://www.econotimes.com/FxWirePro-USD-TRY-bulls-resume-on-trend-line-support-but-restrained-below-21-DMA-major-trend-goes-in-non-directional-%E2%80%93-Speculate-boundary-binaries-315852

For now, we could only say that it isn’t a miracle neither a black magic but a sheer research, rest is history that is visible to you.

We’ve stated that the pair has seen a demand zone at this uptrend line several times in the recent past as well and so is at the current juncture.

Yes, we refer to the gap up opening candle is occurred at 2.9909 levels comparing with the previous close at 2.9571 levels. Most importantly, this pattern occurring at trendline and to bounce above DMAs signify the bulls’ interest.

This bullish pattern is now on the verge of breaking one more important resistance at 2.9939 levels.

We again want to be cautious at this level as we’ve seen a supply zone several times in past, thus, it is deemed as the continuous pattern, given the breach above this level and sustenance is seen decisively.

Both leading indicators converge to the prevailing price gains, we could foresee the momentum is likely to intensify if the breach of the resistance occurs.

Hence, favoring above technical indications and contemplating the current bullish sentiments, one can go long in one touch binary call options.

Well, on speculative grounds we recommend buying these speculative instruments in order to extract maximum leverage on extended profits as a result of potential upswings, these positions are likely to derive exponential returns than spot outrights.
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