USDTRY Analysis

in #trading7 years ago

Usdtry.png

Good day Steemers !

I have been analyzing the pair , USDTRY for quite some time now , it has been making lower lows and lower highs , so it has developed a downwards trend on the daily chart .

Now the question is , is it too late to enter ? How long will the trend continue for ?

Well , looking at the Dollar index ( helpful for understanding USD pair movements ) , it has also been on a downtrend for a while , as seen throughout the markets from pairs like USDZAR , USDMXN etc.

USDMXN.png

I have currently entered the trade and I am going short , with a few pips as profit at the moment .

What are your ideas and comments about this ? What do you think will become of the Dollar as well as the currencies attached to it ?

Stick around for more analysis and tips on how to tackle the markets !

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