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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: 12301 pip
Closed trade(s): 5231 pip Profit
Open trade(s): 7070 pip Profit

Trade Setup:
We opened 4 BUY trade(s) @ 4.7343 based on 'Trough (Valley)' entry method at 2018.07.09.

Closed Profit:
TP1 @ 4.8035 touched at 2018.07.11 with 692 pip Profit.
TP2 @ 4.9225 touched at 2018.07.12 with 1882 pip Profit.
TP3 @ 5.0000 touched at 2018.08.01 with 2657 pip Profit.
692 + 1882 + 2657 = 5231 pip

Open Profit:
Profit for one trade is 5.4413(current price) - 4.7343(open price) = 7070 pip
1 trade(s) still open, therefore total profit for open trade(s) is 7070 x 1 = 7070 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 5.01350 is broken, we will close open trades.

DateMarch 17, 2019 - 19:22
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 5.01350, beginning of uptrend is expected.
  • We make sure when the resistance at 5.54000 breaks.
  • If the support at 5.01350 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 5.01350 is broken.

Technical analysis:

  • A peak is formed in daily chart at 5.4885 on 03/08/2019, so more losses to support(s) 5.4200, 5.3015, 5.1595 and minimum to Major Support (5.0135) 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 62.

Take Profits:

  1. 5.3015
  2. 5.4200
  3. 5.5400
  4. 5.6870
  5. 6.0000
  6. 6.2090
  7. 6.4820
  8. 6.8320
  9. 7.0000
  10. 7.1200
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) free Sat, 23 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sun, 17 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sun, 10 Mar 2024
US Dollar / Turkish Lira (USDTRY) free Sun, 3 Mar 2024
US Dollar / Turkish Lira (USDTRY) Sun, 25 Feb 2024