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 rises ...
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:
There ...
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 line ...
The US Dollar vs. the new Turkish Lira. A new version of the Turkish Lira was established in 2005 after the value of the old Lira fell to drastically low levels. The Turkish economy relies on the foreign cash looking for short term profits making the Lira subject to severe depreciation. Political conditions and EU economic issues have delayed Turkey's effort to join the Euro-Zone.
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