Currency pair USD/TRY US Dollar Turkish Lira is trading at 5.30. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend for the US Dollar/Turkish Lira pair. A test of the area of signal lines near the level of 5.35 is expected, from where we can expect an attempt to rebound and continue the pair’s fall with a target near the level of 5.15.
Turkish Lira forecast USD/TRY November 23, 2018
An additional signal in favor of the pair falling is the test of the upper limit of the downward channel. As well as a rebound from the area of resistance. Earlier, a weak signal was received for SELL the USD/TRY pair, due to the intersection of signal lines at the level of 5.50.
Canceling the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 5.45 area. This will indicate a change in the downward trend in favor of the upward trend and continued growth. Expect to accelerate the fall in USD/TRY quotes with the breakdown of the support area and closing below 5.25.
Turkish Lira forecast USD/TRY November 23, 2018 implies an attempt to test the resistance level level near the 5.35 area. Where can we expect a rebound and the continuation of the fall of the currency pair with a potential target near the level of 5.15. Cancellation of the option to reduce quotes will make a strong growth and the breakdown of the 5.45. This will indicate a continued rise in USD/TRY.