EURTRY Held on Critical Support Point

28-Apr-2020 Tue
EURTRY Held on Critical Support Point

EUR/TRY, which declined to 7.6700 levels in the evening with the rise of Turkish Lira assets, clung on an important support point. It can be expected that the upward trend will continue for the pair stemming from both technically holding the bottom of an uptrend and forming the reverse shoulder head-to-shoulder pattern. At this point, as long as it remains above 7.7000-7.6700, the move to go up in the parity may continue. Exceeding 6.7560-7.7940 resistance points may bring 7.8600 levels as shoulder head-to-shoulder pattern target in the medium term.

 


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