USD/TRY Is Looking Higher Again

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.



Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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