". There is a possibility of temporary retracement to the suggested support line (8.4295).
. 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 an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic...
The exchange deals with the construction of the second part of a double fractal structure. If my current analysis is correct, the exchange rate may start to rise from the US $ 5.5536 correction level. The target price for this increase can be 6.70798 usd.
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...
USDTRY is a very tricky exotic pair to tackle. The exotics on the whole are erratic and offer may traps and false breakouts. This is a dangerous pair and not recommended for those without experience of exotics.
On this occasion I'm departing from my system of 'rules' because I'm dealing with such a wild 'animal'. I have experience of exotics doing false...
The exchange rate is reduced by a reduced ATR and moves at a lower rate. In this case, a triangular formation is expected, also called a flag formation. From this figure, when an upside-down occurs, the exchange rate can go out with a sharply increased momentum and speed. Because the base build required for the rise occurs within the triangle. If the theory is...