Currency pair US Dollar Turkish Lira USD/TRY finished the trading week at the level of 3.5307. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the US Dollar/Turkish Lira. It is expected to test the area of signal lines near the level of 3.5700, from which one should expect an attempt to fall and develop a bearish trend for the pair USD/TRY near the level of 3.4100.
USD/TRY weekly forecast June 12 — 16, 2017
Earlier, a strong signal was received for the sale of the pair US Dollar Turkish Lira, due to the crossing of the signal lines at the level of 3.5790. 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 3.6600, 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 3.4400.
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