I think that given Erdogan's misguided policies, but new and improved policies in the future, we can hope that the Turkish lira, after reaching tp around 18$ or 19$, will get correction and fall down to near 7$, which It will be a big correction for this currency.
Good luck turkey
U.S. Dollar / Turkish Lira
Monthly Chart
Has the Lira achieved a historical bottom
against the US Dollar?
The chart pattern and a possible Elliott Wave
count may suggest so.
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It is clear that he needs to head towards the downside, in case he does not break the support, he will rise and break the symmetrical triangle with the same technical analysis chart.
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Here is the full analysis for this pair, let me know in the comment section below...
Midterm forecast:
5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 5.0000 is broken.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to...
Midterm Forecast:
The current trend is uptrend and the forecast is the continuation of uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 51.
Trading suggestion:...
DOLLAR/LIRA
Midterm forecast:
The current trend is uptrend and the forecast is continuation of the uptrend.
Technical analysis:
While the RSI resistance #1 at 83 is not broken, the probability of price increase would be too low.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if the price drops more, this...
DOLLAR/LIRA
Midterm forecast:
The current trend is uptrend and the forecast is continuation of the uptrend.
Technical analysis:
While the RSI resistance #1 at 83 is not broken, the probability of price increase would be too low.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if the price drops more, this...
