EUR/TRY 4H Chart: Adjusting of patterns

Source: Dukascopy Bank SA

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

Due to a request Dukascopy analytics are doing another review of the EUR/TRY pair. In general, the large scale situation has not changed at all. However, there are some notable developments. 

The junior pattern of the four hour chart has been broken in a medium scale decline. Although, due to the close by support of a dominant channel up pattern the decline is not likely going to continue long.

It is highly possible that the support will hold its ground until the 100-period SMA approaches the trend line and forces the rate higher.

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