USDTRY at 200 day moving average

Jul 18, 2017

The price is sitting nicely on the 200 day moving average (Black line). Usually this acts as a good point of support and would need some serious trend reversal to break this barrier. This level has also acted as support and resistance previously as shown by the blue arrows. We are also in a consistent upwards trend. Hence going long at 3.52374 with a stop at 3.45338 and take profit at 3.72818. As is usualy with most of our trades this is also going to take some time to achieve its target.