Risk 0.66%
Trade can be taken at any point in time during the day
Long Trade 1
Go long at 3.36
Stop loss at 3.34
Take profit at 3.40
Move stop loss to break even at 3.3750
EUR/TRY Analysis
During the day on Monday, we see continued of volatility in the EUR/TRY pair, as we have been hugging the trend line that has been supporting this market as of late. The 3.33 level also looks to be very supportive, so at this point in time it appears that the Euro will continue to climb against the Turkish lira. After all, there are is a certain amount of political instability and Turkey at the moment, and as a result money seems to be flowing from that region.
Because of this, this is a “one-way trade” at the moment, it looks like we are simply continuing the move that we have seen for the last several months. At this point in time, it would be very difficult to short this market.
There are no significant announcements to move this pair today.
