Analysts at TD Securities suggested a trade in the current volatility in USD/TRY. Key Quotes: “Short USDTRY to 5.25. Stop is set at 4.8650, which provides a risk-reward of 1:2.4 given inception at 4.9792.” Fundamentals “Diplomatic tensions between US and Turkey over the house detention of Pastor Brunson is culminating in a set of US tensions on Turkey. The market will be watching the unfolding of the new diplomatic spat with great anxiety, which is likely to translate in a weaker lira and higher TRY rates.” Technicals “We are in no technicals land as the pair has just broken the July 12 all-time high of 4.9743. A break above the psychological 5 mark would likely extend the selloff.” Risks to Our View “Turkey and the US accommodate on a diplomatic level rapidly and the lira stabilizes. The CBRT reacts swiftly by hiking rates by no less than 150-200bps in the coming days.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY drops to new session low near 111.60 as 10-year T-bond yield slides below 3% FX Street 5 years Analysts at TD Securities suggested a trade in the current volatility in USD/TRY. Key Quotes: "Short USDTRY to 5.25. Stop is set at 4.8650, which provides a risk-reward of 1:2.4 given inception at 4.9792." Fundamentals "Diplomatic tensions between US and Turkey over the house detention of Pastor Brunson is culminating in a set of US tensions on Turkey. The market will be watching the unfolding of the new diplomatic spat with great anxiety, which is likely to translate in a weaker lira and higher TRY rates." Technicals "We are in no technicals land as the pair has just broken the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
