Currency pair US Dollar to Turkish Lira USD/TRY completes trading week at 3.5694. 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 USD/TRY. It is expected to test the area of signal lines near the level 3.6300, from which one should expect an attempt to fall and develop a bearish trend for the pair US Dollar to Turkish Lira USD/TRY with a target near the level 3.4600.
USD/TRY forecast Turkish Lira on May 22 — 26, 2017
Earlier, a strong signal was received for the sale of the pair US Dollar to Turkish Lira USD/TRY, due to the crossing of signal lines at the level of 3.6540. 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 quotes above the area of 3.7000, which indicates 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 3.4900.
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