Since more than 5 years USDTRY moves in an uptrend. In September 2015 price reached 3.0000 level and after creation of the double top pattern correction occured. Correction lasted one month and took a form of ABCD simple correction with AB=CD dependence. Since bottom in November 2 price moved upward with higher highs and higher lows.
Today USDTRY broke above key level 3.0000. Next resistances are located at 3.0280, 3.0610. If price will break above last top at 3.0750 it will be a signal for a new uptrend impulse. Alternatively if current breakout won’t succeed and price will fall below 3.0000 nearest supports are located at levels: 2.9850, 2.9400, 2.9050.
Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency.
Time-frame H4
Time-frame D1
