Markets paid no heed to reports that the newly formed government of President Recep Tayyip Erdogan, the winner of the presidential elections, would return to a "more traditional" monetary policy after the appointment of Mehmet Simsek as the new Minister of Treasury and Finance in Turkey, a proponent of raising interest rates, which reduced the possibility Government intervention in the markets. The losses of the TRY/USD did not stop at all for more than a month, with the Turkish currency declining to record levels of losses on a daily basis, as it lost yesterday by about 1 percent to increase its losses this morning with the rise of the US dollar against the Turkish lira by more than 3.5 percent. Close half of the contracts with a profit equal to 70 pips and leave the rest of the contracts until the support level at 23.05.The best points for placing a stop loss close to the highest level of 22.65.Entering a sell order pending order from the 23.00 level.Close half of the contracts with a profit equal to 70 pips and leave the rest of the contracts until the strong resistance level at 23.00.Move the stop loss to the entry area and follow the profit when the price moves by 50 pips.Place a stop loss point to close below the 21.90 level.Entering a buy order pending order from the 22.00 level.Read full review Get Started Today's recommendation on the TRY/USD
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