The USDTRY forms bullish channel – Analysis – 21-6-2022

The USDTRY pair formed new bullish channel recently, to hint surrendering to the domination of the bullish bias and settles near 17.3035, while we will depend on the stability of 17.1830 support to reinforce the chances of renewing the bullish attack in order to reach new positive stations that might start at 17.4790 followed by 17.8870.

On the other hand, surrendering to stochastic negativity might force the price to continue providing the sideways trades, noting that crawling below the mentioned support might force it to postpone the bullish attack and form some correctional negative rebound to target 16.8700 before reaching any new positive target.

The expected trading range for today is between 17.2100 and 17.4790

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The expected trend for today: Bullish