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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup

#USDTRY
Total Profit: 40754 pip
Closed trade(s): 19500 pip Profit
Open trade(s): 21254 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.
TP2 @ 7.5000 touched at 2021.03.04 with 3415 pip Profit.
TP3 @ 7.7750 touched at 2021.03.09 with 6165 pip Profit.
TP4 @ 8.0415 touched at 2021.03.22 with 8830 pip Profit.
1090 + 3415 + 6165 + 8830 = 19500 pip

Open Profit:
Profit for one trade is 8.2211(current price) - 7.1585(open price) = 10627 pip
2 trade(s) still open, therefore total profit for open trade(s) is 10627 x 2 = 21254 pip

#USDTRY
Total Profit: 67061 pip
Closed trade(s): 42228 pip Profit
Open trade(s): 24833 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 5.7379 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 8.2211(current price) - 5.7379(open price) = 24833 pip
1 trade(s) still open, therefore total profit for open trade(s) is 24833 x 1 = 24833 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 7.9925 is broken, we will close open trades.

DateMay 8, 2021 - 19:04
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 7.9925, resumption of uptrend is expected.
  • We make sure when the resistance at 8.4755 breaks.
  • If the support at 7.9925 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 7.9925 is broken.

Technical analysis:

  • While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 8.4847 on 04/26/2021, so more losses to support(s) 8.0415 and minimum to Major Support (7.9925) 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 56.

Take Profits:

  1. 7.2675
  2. 7.5000
  3. 7.7750
  4. 8.0415
  5. 8.5750
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) Sat, 19 Jun 2021
US Dollar / Turkish Lira (USDTRY) Sun, 13 Jun 2021
US Dollar / Turkish Lira (USDTRY) Sat, 5 Jun 2021
US Dollar / Turkish Lira (USDTRY) Sat, 29 May 2021
US Dollar / Turkish Lira (USDTRY) free Sat, 22 May 2021