• FxWirePro: Turkish Lira weakens to record low of 4.92 against u. s. Dollar, high volatility likely

    Source: FxWire Pro - Technicals / 23 May 2018 04:48:56   America/New_York

    • USD/TRY is currently trading at 4.8161 levels.
       
    • It made intraday high at 4.9268 and low at 4.6621 levels.
       
    • Intraday bias remains bullish for the moment.
       
    • Key resistances are seen at 4.9348, 4.9598, 4.9749, 4.9921 and 5.0080 marks respectively.
       
    • On the other side, A sustained close below 4.6635 will drag the parity down towards key supports around 4.5420, 4.5238, 4.5001, 4.4875, 4.4427 and 4.40 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 4.80, stop loss at 4.5726 and target of 5.0080.

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