The blue trend line will act as support if we see a fall. The resistance for next few months seems to be 5.50-5.60
Price can reverse from here (5.15). Currently the price is sitting on a trend line. If we break 5.15 and remain below it for 6-12 hours, we may see further significantly lower levels.
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm. We will close our open trades, if the Midterm level 5.0000 is broken. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. Price is below WEMA21, if price...
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm. Technical analysis: The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased. While the RSI downtrend #2 is not broken, bearish wave in price would continue. Price is below...
Midterm forecast: 5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 5.0000 is broken. Trading suggestion: There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to...
Midterm Forecast: The current trend is uptrend and the forecast is the continuation of uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 51. Trading suggestion:...
DOLLAR/LIRA Midterm forecast: The current trend is uptrend and the forecast is continuation of the uptrend. Technical analysis: While the RSI resistance #1 at 83 is not broken, the probability of price increase would be too low. While the RSI uptrend #2 is not broken, bullish wave in price would continue. Price is above WEMA21, if the price drops more, this...