. The price is trying to break downtrend #1 for the second time. It will be a buying opportunity if downtrend #1 is broken.
. Also, it will be a possibility of temporary retracement to the buy zone when the price reached the suggested resistance line (7.5150) and downtrend #2.
. Traders can set orders based on Price Action...
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.
The RSI support #1 at 57 is broken, so the probability of resumption of uptrend is...
". There is a possibility of temporary retracement to suggested support line (7.8242).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. USDTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
As predicted before, we tested the previous highs and a correction sell came, I think we will go down a bit further to 6.50 6.60 levels. And from there a big bullish wave to 9 is expected, just my idea not an advice and I am too lazy to write a detailed analysis.
USDTRY - Intraday - We look to Buy at 5.6870 (stop at 5.6525)
Posted Mixed Daily results for the last 47 days. Price action has formed an expanding wedge formation. The medium term bias remains bullish. The trend of lower highs is located at 5.7905. However, with the intraday chart now highlighting higher lows we are...