USD/TRY - 1H - Technical analysis published on 01/20/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 5.9012 TRY
My targets
5.9269 TRY (+0.0100)
5.9598 TRY (+0.0429)
My analysis
The bullish trend is currently very strong on USD/TRY. As long as the price remains above the support at 5.9012 TRY, you could try to benefit from the boom. The first bullish objective is located at 5.9269 TRY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 5.9598 TRY as an objective. Crossing it would then enable buyers to target 5.9777 TRY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.4
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/TRY price is 5.9169 TRY. The price registered an increase of +0.52% on the session and was traded between 5.8890 TRY and 5.9193 TRY over the period. The price is currently at +0.47% from its lowest and -0.04% from its highest.5.8890
5.9193
5.9169
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this USD/TRY chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : 1 hour
In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.8608 | 5.8805 | 5.9012 | 5.9169 | 5.9269 | 5.9598 | 5.9777 |
| Change (%) | -0.95% | -0.62% | -0.27% | - | +0.17% | +0.73% | +1.03% |
| Change | -0.0561 | -0.0364 | -0.0157 | - | +0.0100 | +0.0429 | +0.0608 |
| Level | Intermediate | Minor | Major | - | Minor | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.7929 | 5.8220 | 5.8543 | 5.8834 | 5.9157 | 5.9448 | 5.9771 |
| Camarilla | 5.8696 | 5.8752 | 5.8809 | 5.8865 | 5.8921 | 5.8978 | 5.9034 |
| Woodie | 5.7944 | 5.8228 | 5.8558 | 5.8842 | 5.9172 | 5.9456 | 5.9786 |
| Fibonacci | 5.8220 | 5.8455 | 5.8600 | 5.8834 | 5.9069 | 5.9214 | 5.9448 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.7720 | 5.8054 | 5.8459 | 5.8793 | 5.9198 | 5.9532 | 5.9937 |
| Camarilla | 5.8662 | 5.8730 | 5.8797 | 5.8865 | 5.8933 | 5.9001 | 5.9068 |
| Woodie | 5.7757 | 5.8072 | 5.8496 | 5.8811 | 5.9235 | 5.9550 | 5.9974 |
| Fibonacci | 5.8054 | 5.8336 | 5.8510 | 5.8793 | 5.9075 | 5.9249 | 5.9532 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.5713 | 5.6511 | 5.8005 | 5.8803 | 6.0297 | 6.1095 | 6.2589 |
| Camarilla | 5.8870 | 5.9080 | 5.9290 | 5.9500 | 5.9710 | 5.9920 | 6.0130 |
| Woodie | 5.6062 | 5.6685 | 5.8354 | 5.8977 | 6.0646 | 6.1269 | 6.2938 |
| Fibonacci | 5.6511 | 5.7386 | 5.7927 | 5.8803 | 5.9678 | 6.0219 | 6.1095 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 72.85 | |
| MACD (12,26,9): | 0.0096 | |
| Directional Movement: | 17.0322 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 5.9159 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.8987 | |
| Elder Ray (13): | 0.0092 | |
| Super Trend (3,10): | 5.8978 | |
| Zig ZAG (10): | 5.9170 | |
| VORTEX (21): | 1.2222 | |
| Stochastique (14,3,5): | 94.73 | |
| TEMA (21): | 5.9204 | |
| Williams %R (14): | -7.41 | |
| Chande Momentum Oscillator (20): | 0.0228 | |
| Repulse (5,40,3): | 0.0453 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0213 | |
| Courbe Coppock: | 0.76 |
| MA7: | 5.8818 | |
| MA20: | 5.9225 | |
| MA50: | 5.8411 | |
| MA100: | 5.7963 | |
| MAexp7: | 5.9141 | |
| MAexp20: | 5.9038 | |
| MAexp50: | 5.8910 | |
| MAexp100: | 5.8860 | |
| Price / MA7: | +0.60% | |
| Price / MA20: | -0.09% | |
| Price / MA50: | +1.30% | |
| Price / MA100: | +2.08% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.22% | |
| Price / MAexp50: | +0.44% | |
| Price / MAexp100: | +0.52% |
News
The latest news and videos published on USD/TRY at the time of the analysis were 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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