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Rick_69ro

USD/TRY - bottom H & S + RSI div, up up!

Long
U.S. Dollar / Turkish Lira (OANDA:USDTRY)  
Rick_69ro Updated   
OANDA:USDTRY   U.S. Dollar / Turkish Lira
Chart Patterns
6
2
chartpattern
On 4h chart the neckline of the HS goes back to a previous support too. Long position should be taken after breakout of neckline or retest of it.
Comment:
The neckline should be drawn a little bit lower to relate with the support of previous formation. Thank you.
Comment:
3.54 is a very strong resistance but considering that EUR/USD skyrocketed and DXY did not help either, it is remarkable how USD/TRY did not go a lot lower, so I tend to believe that the breakout will be violent directly to 3.56 if EUR/USD will start to retrace next week too.
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