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USD/TRY probable price increase

USD/TRY forecast

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Forex forecast / USD/TRY / Our expectations

The price is moving in upward short-term channel. Correction to levels of diagonal support, EMA 50 and FiBo 38.2, afterward the price pulls back above the zone. Price action signal: Pin bar at levels of EMA 50 and horizontal support. Technical indicator: CCI(50) - going above 0 - positive signal.

Sentiment: Positive for USD. The chances for 3th rate hike from FED are above 80% according market analysts. This makes USD more likely to increase it's value against TRY.

SL: 3.6200

Alternative scenario: If the price breaks below the diagonal support and make lower bottom, the positive scenario will be dismissed.

Trader Bozhidar Arabadzhiev


 Varchev Traders

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