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Weekly forecast US Dollar / Turkish Lira technical chart

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Trade Setup
Total Profit: 12420 pip
Closed trade(s): 1090 pip Profit
Open trade(s): 11330 pip Profit

Trade Setup:
We opened 6 BUY trade(s) @ 7.1585 based on 'Valley' entry method at 2021.02.24.

Closed Profit:
TP1 @ 7.2675 touched at 2021.02.25 with 1090 pip Profit.

Open Profit:
Profit for one trade is 7.3850(current price) - 7.1585(open price) = 2266 pip
5 trade(s) still open, therefore total profit for open trade(s) is 2266 x 5 = 11330 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.

DateFebruary 27, 2021 - 18:38
Currentrange bound
Forecastresumption of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 6.8935, resumption of uptrend is expected.
  • We make sure when the resistance at 7.5000 breaks.
  • If the support at 6.8935 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 7.5327 on 01/18/2021, so more losses to support(s) 7.2675, 7.0000 and minimum to Major Support (6.8935) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 66.

Take Profits:

  1. 7.2675
  2. 7.5000
  3. 7.7755
  4. 8.0415
  5. 8.5750
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) new Sat, 10 Apr 2021
US Dollar / Turkish Lira (USDTRY) Sat, 3 Apr 2021
US Dollar / Turkish Lira (USDTRY) Sat, 27 Mar 2021
US Dollar / Turkish Lira (USDTRY) Sun, 21 Mar 2021
US Dollar / Turkish Lira (USDTRY) Sun, 14 Mar 2021