A written for yesterday day trade, USD/TRY top was located at 1.4049 and USD/TRY traded 8.4094 then dropped 191 pips to 8.3892 and consistent to trades at 200 pips on 400 ish daily pips.
Only 5 vital numbers apply to today’s USD/TRY day trade as follows: 8.4485, 8.4591, 8.4697, 8.5122 and 8.5335.
USD/TRY massive overbought and at current 8.5815 contains a long way to drop not only a day trade but weekly, medium and longer terms.
Brian Twomey
BRIAN TWOMEY ON TRADING 