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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: -25949 pip
Closed trade(s): 0 pip Profit
Open trade(s): -25949 pip Profit

Trade Setup:
We opened 11 BUY trade(s) @ 5.7043 based on 'Valley' at 2019.07.12.

Open Profit:
Profit for one trade is 5.4684(current price) - 5.7043(open price) = -2359 pip
11 trade(s) still open, therefore total profit for open trade(s) is -2359 x 11 = -25949 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateAugust 10, 2019 - 22:09
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 5.12650, beginning of uptrend is expected.
  • We make sure when the resistance at 6.23050 breaks.
  • If the support at 5.12650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • While the RSI support #1 at 29 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 5.7650 on 07/25/2019, so more losses to support(s) 5.4200, 5.3000 and minimum to Major Support (5.1265) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 33.

Take Profits:

  1. 5.7635
  2. 5.8540
  3. 5.9175
  4. 5.9690
  5. 6.0900
  6. 6.2305
  7. 6.4820
  8. 6.7200
  9. 7.0000
  10. 7.1200
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) free Sun, 14 Apr 2024
US Dollar / Turkish Lira (USDTRY) Sat, 6 Apr 2024
US Dollar / Turkish Lira (USDTRY) free Sat, 30 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sat, 23 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on USDTRY.