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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (7.0000 to 6.8935). 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 (7.0000)
  • Ending of entry zone (6.8935)

DateFebruary 4, 2022 - 22:51
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 9.52000, resumption of uptrend is expected.
  • We make sure when the resistance at 13.93340 breaks.
  • If the support at 9.52000 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 13.9397 on 01/10/2022, so more losses to support(s) 12.5602, 12.1223, 11.7488 and minimum to Major Support (9.5200) 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 55.

Take Profits:

  1. 7.2314
  2. 7.5000
  3. 8.0415
Click on the level to view price action history.

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