The USDTRY holds in sideways mode above psychological 7.00 support for the third day, following 3.5% drop last week.
Larger bears face headwinds as corporate buyers are seen at 7.00 zone, also reinforced by the top of rising thick daily cloud (6.9100).
Fresh dollar’s weakness and lira being one of the favorite in emerging markets, continue to weigh, with consolidation on oversold daily studies expected to precede fresh push lower.
Upticks towards 7.20/23 zone (falling daily Tenkan-sen/former low of Jan 7) should provide better levels to re-enter bearish market.
Clear break of 7.00/6.91 pivots would open way for test of 6.8862 (Fibo 61.8% of 5.8382/8.5816 rally) and 6.8155 (21 July low).
Res: 7.1565, 7.2099, 7.2370, 7.2842
Sup: 7.0273, 7.0000, 6.9100, 6.8862
Written by Admin
Install your trader software at VPS server of one of the super fast providers:
Do you want to have such profits and charts? Choose our Megastorm EA for trading in the Forex market...
Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania.Jennah Moon | ...
Betterment launched a new savings option that pays users up to 2.69% interest.Source: BettermentTrading apps ...