Since November, the EUR/TRY exchange rate has been trading within a falling wedge pattern.
From a theoretical perspective, it is likely that the currency pair could continue to depreciate within the predetermined pattern until the beginning of April. Then, the pair could breach it north and target the 10.20 level.
In the meantime, note that the exchange rate is supported by the 55-, 100– and 200-period moving averages in the 8.5760/8.7580 area. Thus, a breakout north could occur sooner.
Written by Admin
Install your trader software at VPS server of one of the super fast providers:
Do you want to have such profits and charts? Choose our Megastorm EA for trading in the Forex market...
Betterment launched a new savings option that pays users up to 2.69% interest.Source: BettermentTrading apps ...
Traders on the floor of the New York Stock Exchange.Source: NYSEStock futures were little changed ...
Construction worker make infrastructure repairs on the intersection of Church Avenue and Coney Island Avenue ...