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TECHNICAL ANALYSIS

We provide an up-to-date Technical Analysis reports of the forex market, metals, oil and global indices to highlight the most important expected movements on the charts.

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

 

*Risk Disclaimer: 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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