- Analytics
- News and Tools
- Market News
- USD/TRY to hit the 10.0000 mark where may soon stall – Commerzbank
USD/TRY to hit the 10.0000 mark where may soon stall – Commerzbank
The Turkish lira is under pressure. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, expects the USD/TRY pair to reach new all-time highs at the psychological 10.0000 mark.
Immediately bullish while above the October 20 low at 9.2010
“USD/TRY’s advance has reached all our daily Point & Figure upside targets and may touch the psychological 10.0000 mark around which it is expected to soon stall. If not, we would have to allow for an hourly 0.01 x 3 Point & Figure upside target at 11.0400 to be reached.”
“We will stay immediately bullish while the cross remains above the October 20 low at 9.2010. Below it, a two-month support line can be found at 9.1721 and the September high at 8.9636. Further down sits the early October low at 8.8037. While remaining above the latter level, overall upside pressure should retain the upper hand.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
