USD/TRY aiming at 6.00? More weakness ahead for wounded lira
Once again, the lira is poised for weakness.
- The USD/TRY pair triggered an inverse H&S pattern, projecting a profit target at the 6.20 mark, with an intermediary target at 6.00 (round-number + horizontal resistance zone).
- The pair completed a pullback to the broken neckline, validating the inverse H&S pattern.
- A shorter-term horizontal support level lies around the 6.89 level
- The US is likely going to impose new sanctions on Turkey, following the Turkey - Syria conflict (lira negative).
- Wars are expensive, and Turkey's external debt is already near record-highs (lira negative).
Please hit the "LIKE" button and support us if you find this short analysis useful. Thanks!
- The USD/TRY pair triggered an inverse H&S pattern, projecting a profit target at the 6.20 mark, with an intermediary target at 6.00 (round-number + horizontal resistance zone).
- The pair completed a pullback to the broken neckline, validating the inverse H&S pattern.
- A shorter-term horizontal support level lies around the 6.89 level
- The US is likely going to impose new sanctions on Turkey, following the Turkey - Syria conflict (lira negative).
- Wars are expensive, and Turkey's external debt is already near record-highs (lira negative).
Please hit the "LIKE" button and support us if you find this short analysis useful. Thanks!
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.