The currency pair US Dollar against the Turkish Lira USD/TRY continues to move as part of the formation of the «Triangle» model. At the time of the publication of the forecast, the course of the US Dollar to the Turkish Lira is 6.12. At the moment, we should expect an attempt to test the support level near the 6.10 area and continue the growth of the pair to the area above the 6.70 level.
USD/TRY forecast Turkish Lira October 11, 2018
The test of the trend line on the relative strength index (RSI) will be in favor of the growth of quotes of the Turkish Lyra. Cancellation of the growth option for USD/TRY at Forex will be a fall and a breakdown of the 5.80 area, which will indicate a breakdown of the lower boundary of the Triangle model and the continuation of the fall in quotations to the area below the level of 5.50. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/TRY quotes above the level of 6.30.
USD/TRY forecast Turkish Lira October 11, 2018 suggests an attempt to test the support area near the level of 6.10 and continue growth to the area above the level of 6.70, an additional signal in favor of the pair on Forex will be a test of the trend line on the relative strength index (RSI).