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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: 52802 pip
Closed trade(s): 42228 pip Profit
Open trade(s): 10574 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 5.7379 (day close price) based on 'Valley' at 2019.11.25.

Closed Profit:
TP1 @ 5.7635 touched at 2019.11.26 with 256 pip Profit.
TP2 @ 5.8540 touched at 2019.12.16 with 1161 pip Profit.
TP3 @ 5.9185 touched at 2019.12.18 with 1806 pip Profit.
TP4 @ 6.0235 touched at 2020.02.07 with 2856 pip Profit.
TP5 @ 6.2445 touched at 2020.02.28 with 5066 pip Profit.
TP6 @ 6.4820 touched at 2020.03.17 with 7441 pip Profit.
TP7 @ 6.7200 touched at 2020.04.03 with 9821 pip Profit.
TP8 @ 7.1200 touched at 2020.05.06 with 13821 pip Profit.
256 + 1161 + 1806 + 2856 + 5066 + 7441 + 9821 + 13821 = 42228 pip

Open Profit:
Profit for one trade is 6.7953(current price) - 5.7379(open price) = 10574 pip
1 trade(s) still open, therefore total profit for open trade(s) is 10574 x 1 = 10574 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.
  • If the Midterm level 6.2445 is broken, we will close open trades.

DateMay 30, 2020 - 23:11
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 6.2445 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 6.2445 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 6.2552 on 2020-02-28 and the peak at 7.26725 on 2020-05-07, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • A trough is formed in daily chart at 6.6935 on 05/26/2020, so more gains to resistance(s) 7.0000, 7.1200, 7.2675 and more heights 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.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) Sat, 11 Jul 2020
US Dollar / Turkish Lira (USDTRY) free Sat, 4 Jul 2020
US Dollar / Turkish Lira (USDTRY) free Sat, 27 Jun 2020
US Dollar / Turkish Lira (USDTRY) free Sat, 20 Jun 2020
US Dollar / Turkish Lira (USDTRY) free Sat, 13 Jun 2020