ForecastCity

Dollar/Turkish Lira - Important Technical Analysis Update

FX:USDTRY   U.S. Dollar / Turkish Lira
Midterm forecast:
While the price is above the support 7.2675, resumption of uptrend is expected.
We make sure when the resistance at 8.5750 breaks.
If the support at 7.2675 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
The RSI support #1 at 57 is broken, so the probability of resumption of uptrend is decreased.
A peak is formed in daily chart at 8.0516 on 11/24/2020, so more losses to support(s) 7.7755, 7.6600, 7.4565 and minimum to Major Support (7.2675) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 46.

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Comments

Simple and useful setup. 👍
+2 Reply
ForecastCity sofi_Morphy
@sofi_Morphy, 💎🙏💎
+1 Reply
Nice chart. Thanks for sharing
+2 Reply
ForecastCity yusufipek1989
@yusufipek1989, You're very welcome!
+1 Reply
I recommend @ForecastCity to all traders. 👌
+1 Reply
ForecastCity Josef_anderson
@Josef_anderson, Thanks
Reply
I was waiting for a new update for USDTRY. Thanks for sharing it.
+1 Reply
@Kamryn, You're welcome. Thanks for your comment
Reply
You always manage to create the most beautiful and detailed charts. Thank you so much 💐
+1 Reply
ForecastCity Kristalyn
@Kristalyn, You're welcome! We're glad you liked it.
Reply
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