Thaw turkey, if frozen. Remove skin and excess fat from turkey breast. Place turkey breast, bone side down, on a rack in a shallow roasting pan. Insert a meat thermometer into the thickest portion of the breast, making sure the bulb does not touch the bone. Cover breast loosely with foil.
Roast in a 325 degree F. oven for 2-1/2 to 3 hours or until thermometer registers 165 degrees F. Remove foil for the last 30 minutes of roasting. Let turkey stand, covered, for 15 minutes before slicing.
Meanwhile, for sauce, in a small saucepan combine the cranberries, carrot, orange peel, orange juice, raisins, sugar, and cloves. Bring to boiling; reduce heat. Simmer, uncovered, for 3 to 4 minutes or until cranberry skins pop.
In a small bowl combine the cold water and cornstarch. Stir into cranberry mixture in saucepan. Cook and stir until thickened and bubbly. Cook and stir for 2 minutes more. Serve turkey with cranberry sauce. If desired, garnish with parsley. Makes 8 servings.