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USD/TRY: One To Watch

By FOREX.com (Fawad Razaqzada)ForexApr 19, 2019 06:51
uk.investing.com/analysis/usdtry-one-to-watch-200207499
USD/TRY: One To Watch
By FOREX.com (Fawad Razaqzada)   |  Apr 19, 2019 06:51
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The long weekend is fast approaching, and traders are slowly winding down. So, I won’t waste your time with a lengthy report. But I just came across this chart of the USD/TRY, which you may want to keep in your watchlist.

The Turkish lira hit a new 2019 low earlier today, causing the USD/TRY to break above its recent highs, before easing back slightly at the time of writing. This pair could potentially head further higher in early next week, potentially triggering similar moves in other emerging market currencies.

Thanks to the USD/TRY’s recent gains, the three moving averages on the chart are all now pointing higher, objectively telling us that the bullish trend may have resumed. At this stage, only a break back below this month’s low at 5.4350 is needed to signal the bears are back in control.

USDTRY Daily Chart
USDTRY Daily Chart

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USD/TRY: One To Watch
 

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USD/TRY: One To Watch

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Ant Gündoğdu
Ant Gündoğdu Apr 20, 2019 11:20
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Turkish Central bank has just announced that USD/TRY will be 6.20 by the end of this year, which means that foreign investors do not tend to get Turkish bonds/stocks in the long run. What do you think?
 
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