In regards to the USD/TRY currency exchange rate the most notable difference is the fact that the pair is a the moment trading in a junior channel down pattern. The pattern is set to guide the currency pair down to the support of the most dominant pattern near the 3.90 mark.
Afterwards a continuation of the long term surge can be expected.
Recent development on the USD/TRY currency exchange rate’s charts have pressed for a need to review the currency pair. In general, the rate is being squeezed in from both sides, and a breakout is to be expected.
This was discovered, as the medium scale channel up pattern was adjusted and a tight level of various levels of significance was noticed near the 0.91-0.93 zone.
Meanwhile, in regards to the direction of the upcoming breakout it can be speculated that the pair will break out to the downside. That hypothesis is made due to the existence of a dominant ascending channel pattern, in accordance with which a medium term consolidation could occur.
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Just be careful with the fundamentals. TRY pairs bounce a lot due to Erdogan's comments and the various counterproductive actions of the Turkish government.
Theoretically being on the spot might bring you a lot of advantages in forecasting long term moves.