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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (5.6665 to 5.6290). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (5.6665)
    • Support on 08/16/2018
    • Support on 10/16/2018
    • Support on 10/24/2018
    • Resistance on 10/26/2018
    • Resistance on 01/03/2019
    • Resistance on 03/29/2019
    • Resistance on 04/01/2019
    • Resistance on 04/02/2019
    • Resistance on 04/03/2019
    • Resistance on 04/04/2019
    • Resistance on 04/05/2019
    • Support on 04/11/2019
    • Support on 06/05/2019
    • Resistance on 07/03/2019
    • Support on 07/12/2019
    • Support on 07/17/2019
    • Resistance on 07/19/2019
    • Support on 07/23/2019
    • Support on 07/25/2019
    • Resistance on 07/29/2019
    • Resistance on 08/19/2019
    • Support on 09/06/2019
    • Support on 09/18/2019
    • Support on 09/19/2019
    • Support on 09/24/2019
    • Resistance on 09/30/2019
    • Support on 11/19/2019
    • Support on 11/20/2019
  • Ending of entry zone (5.6290)
    • Support on 08/16/2018
    • Support on 10/22/2018
    • Resistance on 10/26/2018
    • Resistance on 10/31/2018
    • Resistance on 11/01/2018
    • Resistance on 01/03/2019
    • Resistance on 03/28/2019
    • Resistance on 03/29/2019
    • Resistance on 04/01/2019
    • Resistance on 04/02/2019
    • Resistance on 04/03/2019
    • Resistance on 04/04/2019
    • Resistance on 04/05/2019
    • Support on 07/01/2019
    • Support on 07/02/2019
    • Resistance on 07/04/2019
    • Resistance on 07/05/2019
    • Support on 07/22/2019
    • Support on 07/26/2019
    • Resistance on 07/30/2019
    • Resistance on 07/31/2019
    • Resistance on 08/01/2019
    • Resistance on 08/05/2019
    • Resistance on 08/13/2019
    • Resistance on 08/14/2019
    • Support on 08/20/2019
    • Support on 09/30/2019
    • Support on 10/01/2019

DateNovember 23, 2019 - 21:10
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 6.24450 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 5.7948 on 11/11/2019, so more losses to support(s) 5.6665, 5.6290, 5.5690 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 45.

Take Profits:

  1. 5.7635
  2. 5.8540
  3. 5.9185
  4. 6.0235
  5. 6.2445
  6. 6.4820
  7. 6.7200
  8. 7.1200
Click on the level to view price action history.

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