USD/TRY PRICE ANALYSIS: PULLS BACK FROM 24.00 NEIGHBOURHOOD, OR FRESH ALL-TIME HIGH

avatar
· Views 71



  • USD/TRY retreats from a fresh all-time high, though the downside seems cushioned.
  • Extremely overstretched oscillators prompt traders to take some profits off the table.
  • Any meaningful corrective decline might still attract fresh buyers and remain limited.

The USD/TRY pair eases from the 24.00 neighbourhood, or a fresh all-time high touched during the Asian session on Thursday, though any meaningful corrective decline still seems elusive. Spot price currently trades around the 23.30 area, down just over 0.10% for the day.

From a technical perspective, extremely overstretched oscillators on daily/weekly/monthly charts turn out to be a key factor holding back traders from placing fresh bearish bets around the Turkish Lira. Any subsequent slide in the USD/TRY pair, however, is more likely to attract fresh buyers and remain cushioned near the 23.00 mark.

The said handle should act as a pivotal point for intraday traders, which if broken decisively might prompt some long-unwinding trade and pave the way for deeper losses. The USD/TRY pair might then accelerate the fall towards the 22.80 horizontal support en route to the 22.30-22.25 region before dropping back to the 22.00 round figure.

On the flip side, bulls might now await a sustained strength beyond the 24.00 mark before placing fresh bets and positioning for an extension of the recent blowout rally witnessed over the past two weeks or so. It is worth recalling that the USD/TRY pair has climbed nearly 17% following President Erdogan’s win at the general elections on May 28


免責事項:本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 0

古いコメントはありません。ソファをつかむ最初のものになりましょう。

  • tradingContest