TRY Will Continue Reduce Value...
DAYTRADE PROFIT | Feb 26, 2015 04:39AM ET
USD/TRY technical view remain bullish ,we can see The rounding bottom pattern at the charts –there is an uptrend prior to the rounding bottom,Prices then begin to fall, followed by a shallow bottoming process, and then prices begin rising at a steeper grade creating the visual appearance of a bowl , buy signal is triggered when prices close above the resistance line drawn from the left lip to the area of consolidation formed after the right lip( resistance line) the support areas remain on the 1.24 areas break up the recorded as 2.4975 2.5143 will send the pair to 2.56-2.61 areas ,close look at the USD/TRY will give us more Positive reinforcement for continue up important economics news will publish at 3 march 2015:
Previous Forecast
10:00 AM Inflation Rate MoM FEB 1.1% 0.06%
10:00 AM Inflation Rate YoY FEB 7.24% 7.03%
Close look on inflation rate will show that there is more room for more Additional cuts rates ,this could lead to Reduce the value of the currency
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