USD/TRY - Weekly - Technical analysis published on 10/16/2021 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 8.7024 TRY
My targets
9.3977 TRY (+0.1299)
9.8384 TRY (+0.5706)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/TRY as long as the price remains well above 8.7024 TRY. The buyers' bullish objective is set at 9.3977 TRY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 9.8384 TRY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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This analysis was given by huthayfa. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/TRY price is 9.2678 TRY. Over 5 days, this instrument gained +3.52% and has been traded over the last 5 days between 8.9891 TRY and 9.2791 TRY. This implies that the 5 day price is +3.10% from its lowest point and -0.12% from its highest point.8.9891
9.2791
9.2678
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by USD/TRY:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of USD/TRY indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : Weekly
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 6.1603 | 6.9587 | 8.5221 | 9.2678 |
| Change (%) | -33.53% | -24.92% | -8.05% | - |
| Change | -3.1075 | -2.3091 | -0.7457 | - |
| Level | Minor | Major | Major | - |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.1206 | 9.1545 | 9.2112 | 9.2451 | 9.3018 | 9.3357 | 9.3924 |
| Camarilla | 9.2429 | 9.2512 | 9.2595 | 9.2678 | 9.2761 | 9.2844 | 9.2927 |
| Woodie | 9.1319 | 9.1602 | 9.2225 | 9.2508 | 9.3131 | 9.3414 | 9.4037 |
| Fibonacci | 9.1545 | 9.1891 | 9.2105 | 9.2451 | 9.2797 | 9.3011 | 9.3357 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.7209 | 8.7756 | 8.8644 | 8.9191 | 9.0079 | 9.0626 | 9.1514 |
| Camarilla | 8.9136 | 8.9268 | 8.9400 | 8.9531 | 8.9663 | 8.9794 | 8.9926 |
| Woodie | 8.7379 | 8.7841 | 8.8814 | 8.9276 | 9.0249 | 9.0711 | 9.1684 |
| Fibonacci | 8.7756 | 8.8305 | 8.8643 | 8.9191 | 8.9740 | 9.0078 | 9.0626 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7525 | 8.0071 | 8.4478 | 8.7024 | 9.1431 | 9.3977 | 9.8384 |
| Camarilla | 8.6974 | 8.7611 | 8.8249 | 8.8886 | 8.9523 | 9.0161 | 9.0798 |
| Woodie | 7.8457 | 8.0536 | 8.5410 | 8.7489 | 9.2363 | 9.4442 | 9.9316 |
| Fibonacci | 8.0071 | 8.2727 | 8.4368 | 8.7024 | 8.9680 | 9.1321 | 9.3977 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 71.11 | |
| MACD (12,26,9): | 0.2274 | |
| Directional Movement: | 20.4013 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 8.9084 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.3419 | |
| Elder Ray (13): | 0.3723 | |
| Super Trend (3,10): | 8.3998 | |
| Zig ZAG (10): | 9.2678 | |
| VORTEX (21): | 1.1292 | |
| Stochastique (14,3,5): | 93.90 | |
| TEMA (21): | 8.9332 | |
| Williams %R (14): | -1.11 | |
| Chande Momentum Oscillator (20): | 0.7168 | |
| Repulse (5,40,3): | 7.3923 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3417 | |
| Courbe Coppock: | 4.75 |
| MA7: | 9.0697 | |
| MA20: | 8.9031 | |
| MA50: | 8.6301 | |
| MA100: | 8.6146 | |
| MAexp7: | 8.8676 | |
| MAexp20: | 8.6112 | |
| MAexp50: | 8.1721 | |
| MAexp100: | 7.5349 | |
| Price / MA7: | +2.18% | |
| Price / MA20: | +4.10% | |
| Price / MA50: | +7.39% | |
| Price / MA100: | +7.58% | |
| Price / MAexp7: | +4.51% | |
| Price / MAexp20: | +7.62% | |
| Price / MAexp50: | +13.41% | |
| Price / MAexp100: | +23.00% |
Quotes :
-
Real time data
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Forex
News
The last news published on USD/TRY at the time of the generation of this analysis was as follows:
Upside Potential For USD/TRYThis member declared not having a position on this financial instrument or a related financial instrument.
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