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    USD/TRY: Fibonacci analysis on 26.11.2015

    A downward correction may start.

    On the 4-hour chart, the price has consolidated above the level of 2.8965 (23.6% correction) that may lead to upward movement towards 2.9210 and 2.9415 (23.6% correction for the medium-term trend). However, the price may alternatively turn down and start declining along the 61.8% arc to 2.8965, 2.8816 (38.2% correction) and 2.8693 (50.0% correction).

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