Currency pair US Dollar to Turkish Lira USD/TRY is trading at the level of 3.5678. The pair continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend in the pair US Dollar to Turkish Lira. Ichimoku Kinko Hyo Cloud near the level 3.5760 is expected to test the lower boundary, from which one should expect an attempt to fall and develop a bearish trend for a pair near the level of 3.5370.
Forex analysis USD/TRY on May 31, 2017
Earlier, a weak signal was received for buying of the pair USD/TRY, due to the crossing of signal lines at the level of 3.5656. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 3.5990, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/TRY quotes, with a breakdown of the local minimum area at 3.5440.
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