The pattern triangle was crossed to the bearish direction, however there is no strong fundamental support for strong dollar as FED's Jerome Powell's speech was dovish last week. We need to wait during Monday and figure out market sentiment, this is now crucial to make weekly trading decisions. Targets: Resistance N2 - 1.1880 market open for this...
On CPI news yesterday dollar has gained a bit to 1.1770, however this is very short term impact on the market. To short EURUSD (Bet on dollar) we need more arguments as economic situation in the Eurozone is also positive. 1.1880 is an open price for this week. At this stage it one of the most important target for buyers Check out the pattern Trend Channel by T1...
Turkish lira is near to its end, bow trading at 6.1096. Long term technical analysis shows corrections of this trend to S1 support level 5.9880, next target can be S2 level. This levels are calculating based on long term fibonacci retracement, also confirmation fo our analisys can be pattern wedge with trendlines T1-T2. Crossing of T1 will be a signal to sell USDTRY.