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FxWirePro: Turkish lira hits new record low of 3.1780 against U.S. dollar; stay bullish

Tuesday, November 8, 2016 6:41 AM UTC

USD/TRY is currently trading at 3.1760 levels.
It made intraday high at 3.1780 and low at 3.1634 levels.
Intraday bias remains bullish till the time pair holds key support at 3.1422 levels.
Key resistances are seen 3.1819, 3.1978 and 3.2036 marks respectively.
Alternatively, sustained close below 3.1422 will drag the parity down towards key supports around 3.1088, 3.0924, 3.0797, 3.0514, 3.0343 and 3.0159 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to go long on USD/TRY around 3.1680, stop loss at 3.1422 and target of 3.1780/3.1978.

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FxWirePro: Turkish lira hits new record low of 3.1780 against U.S. dollar; stay bullish

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