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USDTRY Shows A Triangle Pattern


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July 18 2016

Turkish Lyra fell sharply on Friday against the USD, but market is now reversing those losses after situation in Turkey calmed down surprisingly very fast. An updated count shows a possibility of a triangle where wave E) is still missing, so make sure not to fall into this bullish sentiment on USDTRY too soon, as we see a possible pullback in play now to around 2.8400 area before real and strong bullish reaction will show up.

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