Erdogan promising to lower interest rates after the country's June election, the currency tanked to its lowest point yet against the greenback, hitting.4527 on Tuesday mid-afternoon. This could allow for stops below the Thursday low.7065 to go along with initial profit targets at the Friday high.7250. NZD/USD Four-Hour Price Chart Chart prepared by James Stanley AUD/USD for USD-Weakness Plays Approach with Caution Coming into this week, AUD/USD was my choice for USD-weakness, and similar to NZD/USD, the pair caught a firm topside pop around the Thursday pullback in the US Dollar. The dollar has appreciated by around 18 percent against the lira so far this year. Given the past two days price action, that theme appears to remain as the Dollars pullback on Thursday led to very noticeable breakouts in NZD/USD and AUD/USD while EUR/USD remained restrained underneath prior points of support. And Russian military actions in neighboring Syria.
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Turkeys currency initially rallied after the central bank raised interest rates yesterday.
Lira Rebounds After Turkey Bank
The lira temporarily jumped on the news. You can sign up for each of those sessions from the below link: Tuesday: Tuesday, 1PM ET, thursday: Thursday 1PM ET, do you want to see how retail traders are currently trading the US Dollar? FX Setups for the Week of November 5, 2018 - DailyFX Quarterly Forecasts have been updated for Q4, and are available directly from the following link: DailyFX Trading Guides, Q4 Forecasts. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator. Read More, what's your directional. IG Client Sentiment Indicator.