| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The US Dollar has been appreciating gradually against the Turkish Lira since the beginning of May.
Currently, the USD/TRY currency pair is testing the lower boundary of the short-term ascending channel at the 6.0500 mark. From a theoretical point of view, it is expected, that a reversal north could occur in the nearest future. In this case, the pair has to surpass the monthly R1 at 6.1549.
However, note, that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs. Thus, if the given channel does not hold, it is likely, that bears could prevail in the short term. A possible downside target is the Fibonacci 38.20% retracement at 5.8128.