USD/TRY PA Analysis

USD/TRY Chart for educational/study purposes. It's not an investment advice. Made an analysis of this pair months ago, you can check the chart here:

USD lost value against Lira for months and ignored several demand zones until the yearly pivot. At yearly pivot, buyers kicked in with significant buying pressure and the price made a significant reversal thanks to DXY. Will see how it plays out.

Kommentera:

Seller stepped and pushed the price below the suppy area. Area between 7.75-7.65 was the first logical support area. In order to get more details, traders should take a look at this area at LTF such as H4 or H1. If the price loses 7.74 support, 7.50 would be the next support area. As long as the price manages to close above 7.75 support line. Buyers will try to push the price through the supply zone in order to claim it.

Beyond ATH, 8.73(gray area) should be the next strong resistance. Beyond that are possible mid-term/long-term targets.