USD/TRY ending a cycle around 3.800

USD/TRY ending a cycle around 3.800

USD/TRY has been trading in a bullish tone above the 3.750 level across the board and currently it’s duplicating a cycle initiated since January 5th session. So far, the pair is facing a strong resistance below the Fibonacci extension level of 123.6% at 3.823, which should be considered as the end of the cycle mentioned above. The next target for USD/TRY, once it breaks below the 61.8% Fibo level, would be the 3.731 level.

RSI indicator remains in the negative territory, favoring to the bears.



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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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