The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/TRY is looking for patterns
SELL 5.30; TP 5.2685; SL 5.3150
SELL 5.2380; TP 5.2230; SL 1.2430
USD/TRY has been trying to recover since the end of January. The pair formed a higher low. What we see on the chart may be a forming harmonic “Bat” pattern. It means that USD/TRY may continue higher, to 5.3040 to complete the pattern. In that area, it will likely meet resistance (there are also 50- and 200-day MAs in that zone) and turn down. If the pair fails to overcome resistances at 5.2605 and 5.2685, it will first go down to support at 5.2230.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
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.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…