| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The US Dollar has been appreciating against the Turkish Lira since the beginning of September when the USD/TRY currency pair reversed north from the lower boundary of the rising wedge pattern at 5.6600.
From a theoretical point of view, it is likely that some upside potential could prevail in the market, as the exchange rate should target the upper wedge line located in the 5.9000/5.9500 range.
However, this advance might not be immediate, as the rate has to surpass the resistance level formed by the Fibonacci 38.20% retracement at 5.8128. If the given resistance holds, it is likely that a reversal south could occur and, the pair could breach the given pattern south.