EUR/TRY 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/TRY started to form a double top pattern on November 25, when the Euro hit a five-day low versus the Turkish Lira. After that, the pair was climbing until it reached a two-week high that is the highest point of the pattern; this level was reached for two times, with the second peak being slightly higher that the first. After the second stab to this high, the currency couple was supposed to follow a bearish trend; however, its 50-hour SMA is preventing the decline.
© Dukascopy Bank SA
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