(11 OCTOBER 2018)USD/TRY:Technical rebound in a bearish trend.

Pivot (invalidation): 6.0980

Our preference

Short positions below 6.0980 with targets at 6.0490 & 6.0200 in extension.

Alternative scenario

Above 6.0980 look for further upside with 6.1330 & 6.1575 as targets.

Comment

Even though a continuation of the technical rebound cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)