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Trend Hunter performance since 2015 for this symbol

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Weekly forecast US Dollar / Turkish Lira technical chart

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Trade Setup
Total Profit: -14762 pip
Closed trade(s): 0 pip Profit
Open trade(s): -14762 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 5.5701(current price) - 5.7043(open price) = -1342 pip
11 trade(s) still open, therefore total profit for open trade(s) is -1342 x 11 = -14762 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.

DateSat, 08/17/2019 - 22:16
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 5.1265, beginning of uptrend is expected.
  • We make sure when the resistance at 6.2305 breaks.
  • If the support at 5.1265 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.
  • There is a divergence in RSI and price between the trough at 5.6503 on 2019-06-05 and the trough at 5.44255 on 2019-08-08, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI resistance #2 at 53 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 5.4425 on 08/08/2019, so more gains to resistance(s) 5.6405, 5.6870, 5.7635 and maximum to Major Resistance (6.2305) 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 47.

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 Sat, 22 Feb 2020
US Dollar / Turkish Lira (USDTRY) free Sat, 15 Feb 2020
US Dollar / Turkish Lira (USDTRY) Sat, 8 Feb 2020
US Dollar / Turkish Lira (USDTRY) free Sat, 1 Feb 2020
US Dollar / Turkish Lira (USDTRY) Sat, 25 Jan 2020