Let's talk about USD/TRY, its price action from a technical point of view, and wave structure from the Elliott Wave perspective.
USD/TRY was in a massive rise till the end of 2020, where we can finally see a slowdown, however, seems like it's looking even higher in 2021, especially if we consider a three-wave A-B-C corrective drop only.
Currently, we can see it trying to break above strong trendline connected from all-time highs after potentially completed three-wave A-B-C zig-zag correction, so watch out for rally back to all-time highs, just please have in mind that bulls can be confirmed only above 7.95 region.
USD/TRY, 4H
Comments
Log in or sign up to join the conversation.