USDTRY, February 4, 2021

Technical Analysis
Thursday, February 04, 2021 - 00:52
Point Trader Group
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.

Resistance7.20357.30407.3764
Support7.05007.02007.0120

 

  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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