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 6.00. At the moment, we should expect an attempt to test the lower limit of the «Triangle» model near the 6.10 area and continue the pair falling to the area below the level of 5.50.
USD/TRY forecast Turkish Lira October 4, 2018
In favor of reducing the quotes of the Turkish Lyra, a test of the trend line on the relative strength index (RSI) will be made. Cancellation of the option of falling USD/TRY at Forex will be a strong growth and a breakdown of the 6.25 area, which will indicate a breakdown of the lower boundary of the model and continued growth of quotations to the area above the 6.75 level. Waiting for confirmation that the pair is falling is with the breakdown of the support area and closing of the USD/TRY quotes below the level of 5.80.
USD/TRY forecast Turkish Lira October 4, 2018 suggests an attempt to test the resistance area near the level of 6.10 and continue falling to the area below the level of 5.50, 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), canceling the fall option the US Dollar against the Turkish Lira will be strong growth and the breakdown level of 6.25.
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