FOREXCOM:USDTRY   U.S. Dollar / Turkish Lira
FOREXCOM:USDTRY

Over the last 109 days USD/TRY has been forming a rather large triangle. However, over the past 66 days the pair has been trailing down an expanding falling wedge until it bounced off of a strong support zone . It has now completed a classic break-check-go pattern and over the past 3 days has completed a swing low setup (low, lower-low and a lower-high). The fundamentals now pair with the technical setup due to the current problems between the Turkish Army and the Kurdish Liberation Movement. We could be looking a sharp turn in the market due to increasing tensions between the US and Turkey. No trade idea is 100%. What we are constantly searching for are solid reasons to take a trade. Remember, as always plan your trade and trade your plan.
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