USD/TRY: TRY is bouncing off the bottom, going long TRY – TDS

Analysts at TD Securities explained that they like to take advantage of a likely short-term bullish run for the TRY.  

Key Quotes:

“We have entered in our model portfolio a short USD/TRY position with  target  of 4.28.”

“We set our stop at 4.64.”

“We aim at closing the position with a gain ahead of the  24 June  vote.”

“As such, we are willing to lock in a smaller profit “Žif the position hasn’t reached the 4.28 target before the vote.”