ForecastCity

💡 Don't miss the buying opportunity in USDTRY

Long
FX:USDTRY   U.S. Dollar / Turkish Lira
Short-Term Forecast
Trading suggestion:
. The price is trying to break downtrend #1 for the second time. It will be a buying opportunity if downtrend #1 is broken.
. There was a possibility of temporary retracement to the buy zone when the price reached the suggested resistance line (7.5150) and downtrend #2.
. Traders can set orders based on Price Action in the buy zone and expect to reach short-term targets.

Technical analysis:
. USDTRY is in a downtrend. A divergence is formed, and the beginning of an uptrend is expected.
.The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 51.

Take Profits:
TP1= @ 7.7350
TP2= @ 8.0303
TP3= @ 8.3652
TP4= @ 8.5690

SL= Break below S2

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Comments

I think it's false flag this time. Political change incoming in Turkey which will favor free market.
+2 Reply
@ilyast, Thanks for your comment. It's a technical analysis of USDTRY.
Reply
ilyast ForecastCity
@ForecastCity, Right I know, keep up good work.
+1 Reply
ForecastCity Spiderwebb
@Spiderwebb, Thanks for sharing your idea
Reply
I've learned many new things just by following your ideas. 🥇
+1 Reply
@Sir_Ray, It's good to know you found it helpful too.
Reply
It can go well
+1 Reply
ForecastCity Josef_anderson
@Josef_anderson, Thanks
Reply
nice rsi convergence, good luck with this trade!:)
+1 Reply