The currency pair US Dollar against the Turkish Lira USD/TRY continues to move in the framework of the decline. At the time of the publication of the forecast, the course of the US Dollar to the Turkish Lira is 5.41. At the moment, we should expect an attempt to test the resistance level near the 5.50 area. Further, the continuation of the pair decline to the area below the level of 5.05.
USD/TRY forecast Turkish Lira November 16, 2018
The test of the trend line on the relative strength index (RSI) will be in favor of the fall of the Turkish Lira quotations. Cancellation option for falling USD/TRY on Forex will be a strong growth and the breakdown of 5.60 area. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of quotations in the area above level 5.85. It is worth waiting for the confirmation of the pair’s decline with the breakdown of the support area and closing of the USD/TRY quotes below the level of 5.30.
USD/TRY forecast Turkish Lira November 16, 2018 suggests an attempt to test the resistance area near the level of 5.50. Then the continuation of the decline in the region below the level of 5.05. An additional signal in favor of reducing the pair at Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce the US Dollar against the Turkish Lira will be a strong growth and the breakdown level of 5.85.
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