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USD/TRY: technical analysis on 02.11.2015

On the daily chart, the pair opened with a significant gap, broke down the bottom MA of Bollinger Bands and is currently trading below. The price also managed to break down its EMA130 that is directed horizontally, while the EMA65 started turning down. The Composite is about to form a significant Bullish divergence with the price and the RSI. The RSI is going to test its strong support that it could not overcome for the more than a year. However, the Composite suggest the fall can continue. 

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