| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Sell |
| Stochastic (5; 3) | Buy | Buy | Neutral |
| Alligator (13; 8; 5) | Sell | Neutral | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇑ | ⇒ |
The US Dollar spiked significantly against the Turkish Lira late in May as a result of which it surged up to a many-year high of 4.90.
The rate has since edged lower and is now trading in a descending triangle—the upper boundary of this pattern is a downward-sloping trend-line drawn from the aforementioned spike, while support is provided by the 4.45 level.
This triangle has reached its maturity; thus a breakout and a subsequent movement in this direction should soon follow. Longer-term technical indicators are in favour of a fall within the following month, at least. During this time, the downside potential is apparent until the 100-day SMA and the monthly S1 at 4.10. In case of an upside breakout, the Greenback should target the yearly-high at 4.90.
It should be noted that the Turkish Lira is dependent heavily on fundamental aspects; thus, they should also be taken into account when designing a trading strategy.