Forex forecast / USD/TRY / Our expectations
Middle-term downtrend, lower tops and lower bottoms. The price corrected to level of horizontal resistance, FiBo 38.2 and SMA 200. Failed attempts for a break above the resistance level, which gives us a possibility for short position. Price action signal: Tweezers at levels of horizontal resistance and SMA 200. Technical indicator: DeM(14) - In zone of overbought, when break level 0.7, the positive sentiment will weakens.
Alternative scenario: If the price break above the levels of resistance and make higher bottom, the negative scenario will be dismissed.
SL: 3.6000
Trader Bozhidar Arabadzhiev
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