USDTRY
USDTRY is near Mirror Level!The price is near Mirror Level 5.63605.
It was a 1-month accumulation in the triangle formation.
So it's possible to see some impulse after the exit of this triangle.
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ORBEX: USDTRY Makes A Difference! EURGBP How Much More Down?In today's #marketinsights video recording I analyse #EURGBP and #USDRY
#EURO and #POUND pressured from Stronger DOLLAR:
- Following Trump transcript release
- Partial deal with Japan
- Close US-Sino deal Trump comment
- ECB's Germans board member quitting
#EURO also pressured from:
- Spanish PPI
- US-EU tensions
- EU-UK tensions
#POUND also pressured from:
- BoJo's comment to leave whatever it takes
#TurksishLira supported by:
- Weaker oil
- Positive sentiment after IMF report
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
What you need to know to trade on USD TRY this week?US dollar fell by 180 pips against Turkish currency during Asia session on Monday. Now you need focus on two main technical aspect of this currency pier. The first - Fibonacci level 23 (5.7410) and pattern triangular (L1-L2 trend lines). Fibonacci level served as quite strong resistance level and pushed price in the pattern. Today price may keep range 5.7080 - 5.7350, crossing of L1 and L2 trend lines will gave us the signal for this week.






















