country flagالعربية

USD/TRY Daily Technical Analysis | 7 February 2018

2018-02-07 07:52 am | Resource: Technical Analysis Section | No Views : 345

During yesterday's trading, USD/TRY breached the secondary bullish trend line on the hourly interval due to the bear's pressure on the pair and the bulls failed to breach the 3.7865 high.

USD/TRY Daily Technical Analysis | 7 February 2018

Currently the pair is trading in a bearish direction in a sub-configuration, and the simple moving average 20 crosses negatively with the broken bullish line which supports the sellers.
RSI 14 broke the ascending trend line during the European session yesterday morning and is still trading in a major bullish direction.
It is expected that, if the pair breaks the currency against the Turkish currency 3.7787 may target the areas of 3.7506 while, if the breach of the level of 3.7602 may target 3.7737.
Support: 3.7411 - 3.7007 - 3.6484
Resistance: 3.799- 3.8424 - 3.8973
Trend: Down

Other news

GBP drops after UK inflation and UK producer data

Pound  fell in European trade on Wednesday after data showed that UK inflation rose to 1.5% in October UK producer prices fell to 0.8% in October UK inflation fell to 1.5% in October UK consumer prices rose to 1.5% in October from the same month last year, the Office for National Statistics said Wednesday. This figure is lower than September when the UK's annual inflation rate was 1.7%. The biggest…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.