Turkish Lira and Russian Rub Technical View
Key Points
- USDTRY Record highs
- USDRUB Fresh Bearish Kumo Breakout
USDTRY
This pair hit the record highs this month what can be noted based on the Ichimoku system
the price is out of the cloud and the tekan sen and kijun sean seem to be in a bullish formation.
The chikou span is above the price meaning that the uptrend may potentially continue with no technical obstacles at the moment.
But before we start looking for any potential bearish signals we need to have a bounce on the tekan sen or kijun sen and we need also to pay attention to stochastic.
USDTRY Daily CHART
USDRUB
Based on Ichimocu system it can be noticed that the price is below the cloud the kijun sen and the tekan sen seem to be in a bearish formation. The chikou span appears below the price.
What we would like to see here is the possibility of the price to bounce on the tekan sen before start looking for any potential signals.
USDRUB 1H CHART
About the Author:
Marios Athinodorou is TeleTrade’s market analyst and commentator. Apart from being an experienced trader, Marios is an advanced technical analyst and is interested in trading psychology. He has 7 years of trading expertise in Forex and CFDs, providing insights to share with all kinds of traders, from beginners to experts. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars, here.
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