USD/TRY 4H Chart: Short term decline in progress

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Sell
Stochastic (5; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The US Dollar is one of the many currencies, which are gaining strength against the Turkish Lira. Although the most patterns are similar on the pairs that involve the currency of Turkey, there are minor differences. 

In regards to the USD/TRY currency exchange rate the most notable difference is the fact that the pair is a the moment trading in a junior channel down pattern. The pattern is set to guide the currency pair down to the support of the most dominant pattern near the 3.90 mark. 

Afterwards a continuation of the long term surge can be expected.

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