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USDTRY, February 4, 2021
Overview:
Prices are moving in a short-term downtrend
Expected:
The pair is trading below a strong resistance level around 7.2035, which might push the index to go downwards to reach the level of 7.0500
Alternative Scenario:
On the other hand, we believe that if the level of 7.2035 is broken to the upside, this pair might be pushed further up to 7.3040.
| Resistance | 7.2035 | 7.3040 | 7.3764 |
| Support | 7.0500 | 7.0200 | 7.0120 |
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
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