EUR/TRY Continues To Climb
LiveTradingRoom | Aug 02, 2017 11:08
This morning EUR/TRY gapped down at the opening of the market, making a low under the previous daily close, as shown by the HLOC, and then started climbing.
The pair has already gained 4% since the beginning of the semester and still doesn’t seem to be ready for a deep correction.
The Market Statistics gives us a 60% probability to see the market close a weekly bullish candlestick.
Today we had a price action confluence from the scalping to the multiday level, as indicated by the Market Pressure.
The Algo Zones relayed an alignment of the RSI above the 50 threshold on all time frames.
With a percentage confluence and a positive Volume Delta, we trusted the buy signal provided by the Target Geometry at 4.1599.
The market rallied 340 pips from the entry point, piercing target 10.
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