It looks like it has reversed from the strong support we have as per chart and RSI indicates oversold. Stop loss below 29 seems a safer option and uptrend will be quite strong. It can go up as high as 32 for now.
Good luck and stay safe!
Rsi daily divergence + overbough daily.H4,weekly,monthly target 3.6400
Turkish central bank (CBRT) cut the FX RRRS by 50 bp in order to boost liquidity.
The central bank has also cut the interbank borrowing limit to TRY22 billion, emphasizing that measures are aimed to tackle the unhealthy price formation.
breaking the line above, will take the usdtry till 3.54 and it would be resistance, probably bearish move will start till 3.47 , if this senaryo not happen USDTRY is likely to move up till 3.60 - 3.70
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
1482 Cross-Rates (4th Quarter Statistics) @ drive.google.com
Best regards
Aaron
Chart is self explanatory - Now that we have hit that orange non-linear trend line we are very likely to see another move down ESPECIALLY given the extent to which the dollar is currently over extended.
We Know The TRY Go to an unknown location ,, So i Think This week will go Down to Demond Zone or Break it ,, So if You See Price Action its your call ... good luck .
Friends,
Predictive/Forecasting Model hit an unannounced target at the current price vicinity of 3.06557. I have constructed this DAILY chart to comprise three degrees of Elliott Waves: Cycle, Primary and Intermediate.
In these relative terms, the recent top would likely represent cycle III of a Period of an Intermediate (5). The relevance of this detailed...
Oversold RSI combined with 0.5 Fib Retracement and Extention
Strong past structure at that level + could be viewed as support level of a trend which started in late 2013
Brexit effectsdisappear, hopefully!!
GL
