First off USD/TRY is heading north again. Following a diplomatic spat, the Turkish Lira has sold off again and we are out of resistance levels. So what can we use?? well you can always draw a trendline and see if there is a useable parallel line to draw. Which there is ! at 10.02 and this coincides nicely with psychological resistance at 10.00 (markets love round numbers). Do not stop there, when a market is out of resistance or support levels try to look at it on its crosses. A popular cross is TRY/ZAR and this is approaching 1.50! another key psychological level. Tighten up those stops in TRY!
What else? EUR/CHF is approaching a pivot going back for years 1.0649/29, again tighten up those stops as we could well see some profit taking.
Last but not least I shall be watching USD/JPY to see if it can lift off the 23.6% retracement at 113.31, we think it can do it! but definitely one to put on your radar...
Good luck for the week!
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What else? EUR/CHF is approaching a pivot going back for years 1.0649/29, again tighten up those stops as we could well see some profit taking.
Last but not least I shall be watching USD/JPY to see if it can lift off the 23.6% retracement at 113.31, we think it can do it! but definitely one to put on your radar...
Good luck for the week!
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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