Turkish Lira v South African Rand

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There has never been a chart pattern idea for swing traders on this blog. Even if I always been skeptical about the chartist stuff, I admit that from time to time it would be a guide for currency markets where fundamentals tend to change slowly and usually liquidity matters.

And if you’re familiar with emerging markets currencies, you must have realized Turkish lira and South African rand moving very similar ways. The data shows that the TRY/ZAR currency pair hardly ever diverges by more than 5% (in absolute terms) from its 20-day moving average.

Lira Rand Chart

If you read the post until this point, then this is where I wish you good luck.

Update

You can the find the updated chart below and keep enjoying our posts filled with the trader’s post-traumatic stress disorder.

TRYZAR Chart

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