| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The US Dollar has been depreciating against the Turkish Lira within the descending channel since the beginning of June.
As apparent on the chart, the USD/TRY currency pair is testing the lower channel line at 5.4632. From a theoretical point of view, it is expected, that a reversal north should occur in the nearest future, and the general direction could remain north.
However, note, that the exchange rate is pressured by the 100– and 200-hour moving averages, currently located in the 5.5110/5.5431 range. If the given channel does not hold, it is likely, that a breakout south could occur soon. A possible downside target is the Fibonacci 61.80% retracement at 5.0298.