USD/TRY Daily Technical Analysis | 29 January 2018
2018-01-29 09:16 am | Resource: Technical Analysis Section | No Views : 336
The pair is trading in a minor bullish direction, and the SMA 20 is neutral.
By analyzing the chart above, we will see a classical bullish triangle pattern that broke through the upper border during today's trading and if the pair continues to trade above 3.7476, it will move towards the target we will mention below.
The RSI 14 is still trading in a bearish trend in formation but is trading in a minor upside direction, which might support the classical model.
It is expected that, if the pair continues to trade against the Turkish currency higher 3.7476 may target the areas of 3.7807, but if the breach of the level of 3.7263 may target 3.7033.
Support: 3.7007 - 3.6484- 3.5951
Resistance: 3.7411 - 3.799- 3.8424
The dollar was mixed against the major currencies in late-week trading on Friday after US retail sales data and comments by US Commerce Secretary Wilbur Ross said the country would conclude a trade deal with China "in all probability." Ross: China's potential trade deal will be reached Speaking to Fox Business, Ross noted that the two sides were actively discussing the deal and claimed that they were "too far" with…
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