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USD/TRY 1H Chart: Downside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇒

[ANNOUNCE] The US Dollar has been depreciating against the Turkish Lira since the beginning of May. This movement has been bounded in the descending channel. [/ANNOUNCE] 

As apparent on the chart, the USD/TRY currency pair has already reversed south. Currently, the pair is testing the support level formed by the weekly S2 and the monthly S1 at 5.6590. From a theoretical point of view, it is expected, that bears could prevail in the market. A possible downside target is the lower channel line located circa 5.4500. 

However, if the given support level holds, it is likely, that the exchange rate could reverse south and re-test the upper channel line located circa the 5.7500 mark.

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02 Jul 2019

EUR/TRY 1H Chart: Two scenarios likely

Indicator4H1D1W MACD(12;26;9)SellSellBuy RSI(14)BuyBuyNeutral Stochastic(5;3;3)NeutralBuyNeutral Alligator(13;8;5)SellSellBuy SAR(0.02;0.2)SellSellSell Aggregate⇘⇒⇒ [ANNOUNCE] The European Common Currency has been depreciating against the Turkish Lira since the beginning of May after the currency pair reversed south from the ascending trend line at 7.0000. [/ANNOUNCE] Currently, the pair is testing the ascending trend line located at the 6.3900 mark. If the given line holds, it is expected, that

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02 Jul 2019

GBP/AUD 4H Chart: Short-term decline still likely

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