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Message: [QUOTE="Navigation FX, post: 117434, member: 39595"] [B]USD/TRY – Triangle formation, breakout imminent [/B] A few of you have been asking us to post a technical analysis of an exotic pair, so we choose to do one that we believe will bring in plenty of pips. As many of you know, the Turkish Lira against the US Dollar has been its weakest in history with the TRY under constant pressure from the political instability and terrorist attacks that looms over the country. The strong dollar has also aided its depreciation. A triangle formation has formed and we can see on the analysis that the triangle has been tested many times. With the continuing uncertainty in Turkey, when the triangle breaks, we may expect to see TRY depreciate at least 200 pips. Just to note that the image shows a H1 graph. RSI is at 66.... Fore more: [URL]http://www.navigationfx.com/usdtry-technical-analysis/[/URL] [IMG]http://www.navigationfx.com/wp-content/uploads/2016/12/USDTRY-1024x546.png[/IMG] [/QUOTE]

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