| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The USD/TRY currency pair continued to trade upwards within the rising wedge pattern (4H time-frame chart). Currently, the pair is trading at the 5.8800 mark.
From a theoretical perspective, it is likely that some upside potential could prevail in the market, as the exchange rate should target the upper pattern line located in the 6.0800/6.1400 range.
However, this advance might not be immediate, as the currency pair would have to surpass the monthly R1 at 6.0307. If the given resistance holds, it is likely that the pair could re-test the lower pattern line in the nearest future.