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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: 8315 pip
Closed trade(s): 4227 pip Profit
Open trade(s): 4088 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 5.7111 (day close price) based on 'Valley' at 2019.10.01.

Closed Profit:
TP1 @ 5.7835 touched at 2019.10.07 with 724 pip Profit.
TP2 @ 5.8540 touched at 2019.10.09 with 1429 pip Profit.
TP3 @ 5.9185 touched at 2019.10.14 with 2074 pip Profit.
724 + 1429 + 2074 = 4227 pip

Open Profit:
Profit for one trade is 5.7694(current price) - 5.7111(open price) = 584 pip
7 trade(s) still open, therefore total profit for open trade(s) is 584 x 7 = 4088 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.

DateOctober 19, 2019 - 19:23
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:

  • While the RSI support #1 at 29 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 5.6230 on 10/01/2019, so more gains to resistance(s) 5.7835, 5.8540, 5.9185 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 50.

Take Profits:

  1. 5.7835
  2. 5.8540
  3. 5.9185
  4. 6.0900
  5. 6.2305
  6. 6.4820
  7. 6.7200
  8. 7.0000
  9. 7.1200
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) new free Sun, 17 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sun, 10 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sun, 3 Mar 2024
US Dollar / Turkish Lira (USDTRY) Sun, 25 Feb 2024
US Dollar / Turkish Lira (USDTRY) Sat, 17 Feb 2024