Currency pair US Dollar to Turkish Lira USD/TRY continues to move in the framework of the decline. At the time of publication of the forecast, the course of the US Dollar to the Turkish Lira is 5.34 At the moment, we should expect an attempt to test the support level near the 5.10 area. Further, the continuation of the pair in the area above the level of 5.80.
USD/TRY weekly forecast & analysis November 19 — 23, 2018
In favor of the growth of quotes of the Turkish Lyra, a test of the broken trend line on the relative strength index (RSI) will be made. Cancellation of the growth option USD/TRY on Forex will be a fall and a breakdown of the 5.05 area. This will indicate a breakdown on the support area and the continuation of the fall in quotations to the area below the level of 4.40. 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 5.55 level.
USD/TRY weekly forecast & analysis November 19 — 23, 2018 implies an attempt to test the support area near the level of 5.10. Then continued growth in the area above the level of 5.80. An additional signal in favor of the pair growth at Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of the US Dollar against the Turkish Lyra will be the fall and the breakdown of the level of 4.40.
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