USDTRY: Set to return to the 9 year mode
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
Catatan
And 1025 pips were shed since...Catatan
1284 pips, but who's counting?
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🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
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Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.