USDTRY TECHNICAL ANALYSIS

usdtry technical view and outlook forecast 

TRY Will Continue Reduce Value...
Usdtry  technical view remain bullish  ,we can see The rounding bottom pattern at the charts –there is an uptrend prior to the rounding bottom,Prices then begin to fall, followed by a shallow bottoming process, and then prices begin rising at a steeper grade creating the visual appearance of a bowl , buy signal is triggered when prices close above the resistance line drawn from the left lip to the area of consolidation formed after the right lip( resistance line)                                                                                                           
the support areas remain on the 1.24 areas break up the recorded as 2.4975 2.5143  will send the pair to 2.56-2.61 areas ,close look at the usdtry will give us more Positive reinforcement for continue up (at the second chart)   important economics news will publish at 3 march 2015:

                                                                Previous       Forecast

10:00 AM   Inflation Rate MoM  FEB        1.1%            0.06%

10:00 AM   Inflation Rate YoY  FEB         7.24%         7.03%   

Close look on inflation rate will show that there is more room for more Additional cuts rates ,this could lead to Reduce the value of the currency 

usdtry

turkey

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice