USD/TRY 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar started to decline versus the Turkish Lira after it peaked at a two-month high on November 13. Since then, the pair has been forming a channel down pattern that now is 78-bar long. At the moment of writing, the pair was faltering slightly above the four-hour pivot point sitting at 2.0217 and may advance further as market sentiment is moderately bullish, with 61.11% of all orders being placed to buy the pair, according to the SWFX data. Meanwhile, technical indicators are neutral for the short and medium terms and are sending bullish signals for the longer timeframe.
© Dukascopy Bank SA
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Tue, 19 Nov 2013 06:56:42 GMT

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Tue, 19 Nov 2013 06:56:24 GMT

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