| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The US Dollar has been appreciating against the Turkish Lira since the beginning of February when the exchange rate reversed from the psychological level at 5.2000.
As apparent on the chart, the currency pair is testing the resistance level at the 5.4800 mark. Given that the rate is being supported by the 55-, 100– and 200-hour SMAs, it is likely that some upside momentum prevails in the market. It is expected that the rate targets the Fibonacci 38.20% retracement at 5.8128.
It is the unlikely case that bears prevail in the market in the nearest future and the currency pair breaches the Fibonacci 61.80% retracement at 5.0298.