The Turkish Lira could slip back to the 4.4595/4.4467 band following recent all-time highs, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “Last week USD/TRY briefly rose above its 4.9233 May high and (according to CQG) made a new all-time high at 4.9624 before consolidating”. “This week we expect the 4.9233/4.9624 resistance area to cap and for a gradual decline back towards the 4.4595/4.4467 late May and June lows to be seen”. “Below it lurks the May 9 high at 4.3746″. “Failure at this level would push the five month support line at 4.3802 to the fore. Further down the April and the May 10 lows can be spotted at 4.2210/4.1930″. “Above the 4.9233/4.9624 resistance zone lies major psychological resistance at the 5.0000 mark. Around it we expect the recent advance to falter, if it were to be reached at all that is”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Technical Analysis: Cable dropping fast as bears eye 1.3100 figure FX Street 5 years The Turkish Lira could slip back to the 4.4595/4.4467 band following recent all-time highs, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "Last week USD/TRY briefly rose above its 4.9233 May high and (according to CQG) made a new all-time high at 4.9624 before consolidating". "This week we expect the 4.9233/4.9624 resistance area to cap and for a gradual decline back towards the 4.4595/4.4467 late May and June lows to be seen". "Below it lurks the May 9 high at 4.3746". "Failure at this level would push the five month support line at 4.3802 to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
