Looks totally clear... Indicators are getting ready to smash Turkish Lira more... Macd on the weekly about to move to positive territory... Resistance from that trend line will break and pump the price up...
Our risk / reward ratio is 0.28 in the first field and 0.09 in the second field.
There was a close above 5.84.
Long positions can be tried in small lots.
However, losses can be a bit high since the bar cannot be sure without closing, so stoploss should be placed directly at 5.81 or 5.84.
Our sales level for the first area is 6.095.
If the first area breaks down,...
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 5.8500
• Take Profit Level: 5.9000 (500 pips)
Due to short of cash in Turkey, USD is gaining power against TRY day by day. We can see some small corrections to support of chnanel like 5,78 - 5,80 but the trend is going upwards since 5,50's.
Uptrending channel will meet with the resistance at the end of August and than we can see some steep movements probably upwards or maybe some corrections. Until than, I...
We can see on the half hour graph that USDTRY is forming a second pennant formation.
We have to wait and see other indicators to support this move such as Parabolic SAR and RSI. Moving average is crossing the bollinger middle band as I'm publishing this. Volume is getting higher in each stick forms. Also bollinger bands narrowed down for a move. Target of this...
Last time MA50 crossed MA100 upwards @ 15.02.2019. Same thing possibly will happen today. Downtrend trend upper line broken.
Weekly and monthly over-sold
TPs:Depicted with light green.(Take into account fibo resistance levels also.)
Due to Turkish holiday TRY will be traded weakly until Thursday. At these times, values can be more volatile.
We can clearly see the bullish pennant formation on USD/TRY. Tomorrow we have to carefully watch the value. If it will break the pennants resistance, value may go up to 5,62-5,65 channel. We can see that there will be a steep movement from the narrowed...