USD/TRY possibility for new long

06.02.2017 / 12:21

Rating:

USD/TRY 06.02.2017

Time frame H4

Long-term and middle-term uptrend. Short-term correction to levels of diagonal support, EMA 200 and FIBo 23.6. Fake break of the EMA and FiBo and pull back above the levels of suppot, which indicates that the sellers are losing power.

Price action signal Pin bar at levels of EMA 200 and FiBo 23.6

Technical indicator:

CCI(50) and DeM(14) - Both in zone of oversold, when break level -100 for CCI and 0.3 for Dem , the positive scenario will be confirmed.

SL: 3.6500

Alternative scenario: If the price breaks below the diagonal support , the positive scenario will be dismissed.

Trader_B_Arabadzhiev

Varchev Traders

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USD/TRY possibility for new long

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