Ascending wedge is a bearish reversal pattern. The weakness of TRY has been linked to the political conflicts as well as the macroeconomic vulnerabilities. Based on the fundamentals of TRYUSD chart, we can expect the Turkish central bank to avoid surprising or radical interest rate hikes in the short term, instead the Turkish government to reduce tensions with the US.
Critical levels for the long contracts: 6.8 - 7.1 - 7.9
Critical levels for the short contracts: 6.4 - 6.0 - 5.7
Critical levels for the long contracts: 6.8 - 7.1 - 7.9
Critical levels for the short contracts: 6.4 - 6.0 - 5.7