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    USD/TRY: Fibonacci analysis on 18.11.2015

    The pair may start growing.

    On the 4-hour chart, the pair has been trading within the range of 2.8749 (38.2% correction)-2.8605 (50.0% correction) and is likely to remain within it in the short term. The breakout of the level of 2.8749 may allow the price to grow to 2.8924 (23.6% correction) and 2.9210 (0.0% correction). Otherwise, if the price consolidates below the level of 2.8605, a decline would continue towards 2.8461 (61.8%correction) and 2.8260.

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