USD/TRY is in uptrend after a sharp drop back in 2021 which was seen as wave IV correction. Notice that recovery is now very strong back to new highs, which can be counted in an impulsive fashion so we think there will be more gains after any retracement. There can be some pullback coming away from temporary resistance now, ideally into wave IV which may find a base at the black trendline.
Big picture
Higher degree impulse can be in late stages with current five subwaves with blue wave V. Frist upward level is at 20.00 where bulls can slow down, but next extension targets show room even for 25 and 30.
