USDTRY: Set to return to the 9 year mode
Zaktualizowano
USDTRY appears to have reached a long term target top recently.
It's possible that this is the highest high for a very long time.
Next move would have to be a drop to 1.46034 where the price spent the most time in 9 years.
With the limited data that I have, this is the technical outlook that I can obtain, which matches the fundamentals, correlating with a massive stock market decline for months.
It appears as if price formed a terminal rising wedge when coming out of the 9 year consolidation, which would be coherent with the strong top formation on chart.
Regards,
Ivan Labrie.
Time at Mode FX
It's possible that this is the highest high for a very long time.
Next move would have to be a drop to 1.46034 where the price spent the most time in 9 years.
With the limited data that I have, this is the technical outlook that I can obtain, which matches the fundamentals, correlating with a massive stock market decline for months.
It appears as if price formed a terminal rising wedge when coming out of the 9 year consolidation, which would be coherent with the strong top formation on chart.
Regards,
Ivan Labrie.
Time at Mode FX
Uwaga
And 1025 pips were shed since...Uwaga
1284 pips, but who's counting?
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