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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 9, 2021

Technical Analysis
Tuesday, February 09, 2021 - 13:42
Point Trader Group
USDTRY, February 9, 2021

Overview:

Prices are moving in a short-term downtrend

Expected:

The pair is trading below a strong resistance level around 7.1216, which might push the pair to go downwards to reach the level of 7.0523.

Alternative Scenario:On the other hand, we believe that if the level of 7.1216 is broken to the upside, the pair might be pushed further up to 7.1400.

Resistance7.14007.13517.1216
Support7.02127.03227.0523

 

*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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