Hi everyone! I came across this phrase “confirmed a top a turn lower”, but i don’t know what it means. Anyone can help me? Thanks!!
Hello sammi, Could you give us a few more details? At the moment it doesn’t make any sense to me.
Hi Sanne! The original text is as followings.
“The currency, nicknamed the kiwi, had an “impulsive break” to 80.67 cents to the greenback that confirmed a top a turn lower, MacNeil Curry, head of foreign-exchange and interest-rates technical strategy in New York at Bank of America Merrill Lynch, wrote today in a research report. The kiwi will likely fall to 78.41 cents and may decline as low as 74.89 cents against the U.S. dollar.”
That is a challenge! I can only guess that it means ‘it confirmed that the top (value) reached was a bit lower’.
I am not at all sure, though, and would appreciate further input from more knowledgeable minds…
Thank you, Sanne! with your interpretation i can understand it now. Regards