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Weekly forecast US Dollar / Turkish Lira technical chart

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (7.00000 to 6.89350). 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 (7.00000)
  • Ending of entry zone (6.89350)

DateDecember 2, 2023 - 20:57
Forecastcontinuation of uptrend

Midterm forecast:

  • 20.00000 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 27.22770 on 08/24/2023, so more losses to support(s) 28.68897, 27.00000, 26.00000 and minimum to Major Support (20.00000) 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 75.

Take Profits:

  1. 7.23143
  2. 7.50000
Click on the level to view price action history.

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