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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: 32243 pip
Closed trade(s): 5231 pip Profit
Open trade(s): 27012 pip Profit

Trade Setup:
We opened 4 BUY trade(s) @ 4.7343 based on 'Trough (Valley)' entry method at 2018.07.09.

Closed Profit:
TP1 @ 4.8035 touched at 2018.07.11 with 692 pip Profit.
TP2 @ 4.9225 touched at 2018.07.12 with 1882 pip Profit.
TP3 @ 5.0000 touched at 2018.08.01 with 2657 pip Profit.
692 + 1882 + 2657 = 5231 pip

Open Profit:
Profit for one trade is 7.4355(current price) - 4.7343(open price) = 27012 pip
1 trade(s) still open, therefore total profit for open trade(s) is 27012 x 1 = 27012 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 16, 2021 - 19:46
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 7.1200, resumption of uptrend is expected.
  • We make sure when the resistance at 8.0415 breaks.
  • If the support at 7.1200 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 7.1200 is broken.

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 resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 7.5267 on 01/11/2021, so more losses to support(s) 7.2675 and minimum to Major Support (7.1200) 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 44.

Supports and Resistances:

  1. 7.1200
  2. 6.7200
  3. 6.4820
  4. 6.2445
  5. 6.0235
  6. 5.9185
  7. 5.7635
  8. 5.4200
  9. 4.9225
  10. 4.8035
  11. 4.5545
  12. 4.4500
  13. 4.3200
  14. 4.1750
  15. 4.0290
  16. 3.9330
  17. 3.8270
  18. 3.7725
  19. 3.7150
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) new Sat, 6 Mar 2021
US Dollar / Turkish Lira (USDTRY) free Sat, 27 Feb 2021
US Dollar / Turkish Lira (USDTRY) Wed, 24 Feb 2021
US Dollar / Turkish Lira (USDTRY) Sun, 21 Feb 2021
US Dollar / Turkish Lira (USDTRY) Sat, 13 Feb 2021