Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Buy | Sell | Sell |
Alligator (13; 8; 5) | Neutral | Sell | Neutral |
SAR (0.02; 0.2) | Buy | Sell | Sell |
Aggregate | ⇒ | ⇘ | ⇒ |
The Lira continues to recover against all of the other currencies, and the USD/TRY pair is no exception. The pair is trading simultaneously in two descending channel patterns, and the short term pattern represents the pair's bounce off from the dominant channel's resistance. Most recently the currency exchange rate failed at an attempt to pass the support of the 23.60% Fibonacci retracement level, which is located at the 3.4821 mark. The relevant retracement levels are measured by connecting the 2016 December low level and the 2017 high level. Due to the fact that the pair once more bounced off the upper trend line of the junior channel another attempt at the retracement is about to occur.