The USDTRY Facing Key Resistance
U.S. Dollar/Turkish New Lira FX:USDTRY
Last post: May 22nd. See chart.
Review: The bull trend continued towards 5.0000 resistance before an intraday reversal on Wednesday this week.
Update: The bulls recovered the following day and continue to dominate the market.
Conclusion: The extended wick from Wednesday’s bar and 5.0000 resistance further ahead means patience until these levels become support.
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