USD/TRY - 1H - Technical analysis published on 12/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 34.7075 TRY
My targets
34.8606 TRY (+0.1154)
35.0126 TRY (+0.2674)
My analysis
USD/TRY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 34.7075 TRY. The next resistance located at 34.8606 TRY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 35.0126 TRY. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
7.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/TRY price is 34.7452 TRY. On the day, this instrument gained +0.00% with the lowest point at 34.7377 TRY and the highest point at 34.7545 TRY. The deviation from the price is +0.02% for the low point and -0.03% for the high point.34.7377
34.7545
34.7452
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is slight given the direction of the technical indicators.
The Central Indicators scanner found no further results concerning independent technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 34.4729 | 34.5770 | 34.7075 | 34.7452 |
| Change (%) | -0.78% | -0.48% | -0.11% | - |
| Change | -0.2723 | -0.1682 | -0.0377 | - |
| Level | Minor | Major | Intermediate | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.6268 | 34.6541 | 34.6996 | 34.7269 | 34.7724 | 34.7997 | 34.8452 |
| Camarilla | 34.7252 | 34.7319 | 34.7385 | 34.7452 | 34.7519 | 34.7586 | 34.7652 |
| Woodie | 34.6360 | 34.6587 | 34.7088 | 34.7315 | 34.7816 | 34.8043 | 34.8544 |
| Fibonacci | 34.6541 | 34.6819 | 34.6991 | 34.7269 | 34.7547 | 34.7719 | 34.7997 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.3055 | 34.3892 | 34.5412 | 34.6249 | 34.7769 | 34.8606 | 35.0126 |
| Camarilla | 34.6284 | 34.6500 | 34.6716 | 34.6932 | 34.7148 | 34.7364 | 34.7580 |
| Woodie | 34.3397 | 34.4063 | 34.5754 | 34.6420 | 34.8111 | 34.8777 | 35.0468 |
| Fibonacci | 34.3892 | 34.4792 | 34.5349 | 34.6249 | 34.7149 | 34.7706 | 34.8606 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33.6206 | 33.8953 | 34.2942 | 34.5689 | 34.9678 | 35.2425 | 35.6414 |
| Camarilla | 34.5080 | 34.5697 | 34.6315 | 34.6932 | 34.7550 | 34.8167 | 34.8784 |
| Woodie | 33.6828 | 33.9264 | 34.3564 | 34.6000 | 35.0300 | 35.2736 | 35.7036 |
| Fibonacci | 33.8953 | 34.1526 | 34.3116 | 34.5689 | 34.8262 | 34.9852 | 35.2425 |
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): | 63.25 | |
| MACD (12,26,9): | 0.0090 | |
| Directional Movement: | 5.9126 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 34.7542 | |
| Parabolic SAR (0,02-0,02-0,2): | 34.7190 | |
| Elder Ray (13): | 0.0030 | |
| Super Trend (3,10): | 34.7198 | |
| Zig ZAG (10): | 34.7481 | |
| VORTEX (21): | 1.1652 | |
| Stochastique (14,3,5): | 76.51 | |
| TEMA (21): | 34.7534 | |
| Williams %R (14): | -23.02 | |
| Chande Momentum Oscillator (20): | 0.0069 | |
| Repulse (5,40,3): | 0.0110 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0041 | |
| Courbe Coppock: | 0.08 |
| MA7: | 34.6815 | |
| MA20: | 34.5138 | |
| MA50: | 34.3571 | |
| MA100: | 34.0164 | |
| MAexp7: | 34.7490 | |
| MAexp20: | 34.7416 | |
| MAexp50: | 34.7215 | |
| MAexp100: | 34.6921 | |
| Price / MA7: | +0.18% | |
| Price / MA20: | +0.67% | |
| Price / MA50: | +1.13% | |
| Price / MA100: | +2.14% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | +0.07% | |
| Price / MAexp100: | +0.15% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on USD/TRY. At the time of publication of this analysis, the latest news was as follows:
-
USD/TRY Forecast July 23, 2024
-
XTB Market Updates on USDTRY - 06/06/2023
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Upside Potential For USD/TRY
-
Upside Potential For USD/TRY
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USD/TRY
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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