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
A employee sprinkles cheese on a burrito at a Chipotle Mexican Grill restaurant in Hollywood, ...
California will strengthen the security of the debit cards it uses to issue unemployment insurance ...
A Specialist trader works inside a booth on the floor of the New York Stock ...