Checkout the trend channel 1,2,3,4,5 - which
shows expected movements. Usually parallel
channels are crossed on point 5, so now you
can trade to point 5 and then after crossing.
But follow the fundamentals, anyway technical
analysis is only for entry and close level
calculation
Also check the related link for long term forecast
EUR is overloaded, it's risky to go long now. I expect strong sell for next several days, BUT this is my expectation based on sentiment and fundamental analysis, so we need a proof and spetial technical signals to go short, we need exact points and targets. On H4 chart I see strong pattern sperandeo, which can give as that targets
T1 is first and the most...
Following our signal on USD TRY (Posted one week ago). Pattern sperandeo was not formed ideally, but signal was right, still the target is S1 support level 5.9880
Monday morning, great week ahead - unemployment data from Europe, Non-farm from USA. But today more concentration on technical analysis, check pattern bullish Head and Shoulders on EUR - USD currency pier (H1 timeframe). If price will cross T1 trendline- the target will be 1.1023. Be careful as it is Monday and price still can test 1.0905, last week lowest price....
As we posted last week, USD-TRY prise sharply crossed 5.6000 level, now trading around 5.7640
We think that before TCMB meeting price will be above our 5.7760 (R1) target, as we mentioned before 25 october is important to make longer term forecast. But it must be mentioned that USD is advancing versus major currencies from monday, so the price of Lira dropped...
