| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The European Common Currency has been depreciating against the Turkish Lira since the beginning of May after the currency pair reversed south from the ascending trend line at 7.0000.
Currently, the pair is testing the ascending trend line located at the 6.3900 mark. If the given line holds, it is expected, that a reversal north could occur within the following trading hours. Important resistance level to look out for is the Fibonacci 38.20% retracement at 7.0377.
Otherwise, it is likely, that some downside potential could prevail in the market. In this case, the exchange rate could drop to the monthly S3 at the 6.1124 mark.