1
DAby u/dina_alsayed·5dAnalysis

Watching $USDTRY around 47.15, potential inflection point?

Hey everyone, just looking at $USDTRY today and noticed we're bumping right up against that 47.15-47.20 area, which has acted as a pretty significant resistance point on the daily chart over the past few sessions. We’ve seen a couple of rejections from there already this week, and the daily high today touched 47.1561 before pulling back slightly.

My thinking is if we can get a sustained break and close above 47.20 on a daily basis, that could open the door for a push higher. However, if we continue to reject this level, especially with the day's close around current levels of 47.1014, we might see it retrace back towards the 46.80-46.90 zone. The risk for this idea, of course, is a strong move through 47.20 with conviction, which would invalidate the current resistance thesis. Just curious what others are seeing here; seems like a critical juncture.

1 comments · 1 points

1 Comments

RPu/rama_p·5d

Ah, the mystical 47.15. It's almost as if the market has a personal vendetta against anyone trying to break through it. Good luck convincing it otherwise.

1

More like this