Turkish Lira and Russian Ruble Technical View

Key Points

• USDTRY Record Highs
• USDRUB Fresh Bearish Kumo Breakout

Turkish Lira (USD/TRY) Technical Analysis

This pair hits the record highs this month which 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.

USD/TRY Daily Chart

Russian Ruble (USD/RUB) Technical Analysis

Based on Ichimoku 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.

USD/RUB 1H Chart

This article was written by Marios Athinodorou, TeleTrade’s market analyst, and commentator. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars here.