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USD/TRY Trade idea

  • Pair is currently trading at 2.9385 levels.
     
  • It made intraday high at 2.9390 and low at 2.9221 levels.
     
  • Short term outlook remains bullish till the time pair holds key support level at 2.9189 levels.
     
  • In addition, a daily close below key support level will drag the parity 2.9015, 2.8847 thereafter.
     
  • On the other side, key resistance levels are seen at 2.9565 levels.

We prefer to take long position in USD/TRY around 2.9350, stop loss 2.9189 and target 2.9662 levels.

 

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