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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (4.4600 to 4.3200). 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 (4.4600)
    • Resistance on 05/15/2018
    • Resistance on 05/16/2018
    • Resistance on 05/17/2018
  • Ending of entry zone (4.3200)
    • Resistance on 05/11/2018

DateJune 3, 2018 - 16:27
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 64.

Take Profits:

  1. 4.5400
  2. 4.7385
  3. 4.9225
  4. 5.0000
Click on the level to view price action history.

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