USDTRY - Daily - Watch the breakout
Trade Alert
All eyes are on the breakout levels. Keep monitoring this pair carefully and we might get a nice trade out of it.
On the upside, we need to see a break and a close above the downside resistance line, in order to consider a move higher. A break of the 4.55 level opens the path to 4.68 or even the 4.81 areas.
On the other hand, if the downside resistance line holds, then a break below the 4.45 could initiate further selling. Watch the 4.34 level and after that, the upwards moving trendline, as the next potential area of support.
Don't forget your stops.
All eyes are on the breakout levels. Keep monitoring this pair carefully and we might get a nice trade out of it.
On the upside, we need to see a break and a close above the downside resistance line, in order to consider a move higher. A break of the 4.55 level opens the path to 4.68 or even the 4.81 areas.
On the other hand, if the downside resistance line holds, then a break below the 4.45 could initiate further selling. Watch the 4.34 level and after that, the upwards moving trendline, as the next potential area of support.
Don't forget your stops.