| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
Since the middle of November, the USD/TRY currency pair has been trading downwards within a falling wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could breach the predetermined pattern north in the nearest future. In this case the rate could target the psychological level at 8.5800.
Meanwhile, note that the currency pair is pressured by the 200-period moving average near 7.6340. Thus, some downside potential could continue to prevail in the market. The pair could decline to the Fibo 38.20% at 6.5993.