(16 MAY 2019)USD/TRY:Capped by a negative trend line.

Pivot (invalidation): 6.0440

Our preference

Short positions below 6.0440 with targets at 5.9900 & 5.9530 in extension.

Alternative scenario

Above 6.0440 look for further upside with 6.0790 & 6.1080 as targets.

Comment

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

limited.

(By Swissquote TRADING CENTRAL)