Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 15/04/2019

Fundamental analysis

15 April, 2019

USD/TRY traded firmly higher on Monday in the European session even as the Greenback traded slightly lower against a basket of other currencies. The Turkish Lira opened the week lower after falling last week by some 3% following dwindling confidence in the country’s currency and amid disappointment over an economic reform plan presented by Turkey’s finance minister this week. On Thursday, the lira weakened 1.2 percent following a lukewarm reaction on Wednesday to Finance Minister Berat Albayrak’s package of economic reforms, notably a plan to provide 28 billion lira ($4.9 billion) to recapitalise state banks. On Friday, Turkey’s central bank corrected its figures of foreign currency deposits held by locals to $181.88 billion, a day after it announced it had dipped to $181.13 billion. Analysts say Turks converting their savings into foreign currencies have signaled a decline of confidence in the lira. Later today, New York Empire State Manufacturing Index for April will be released in the US (13:30 GMT+1).

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 15/04/2019
Time Frame: 1 hour

USDTRY Support & Resistance Table - 15/04/2019

Support & Resistance Level Explanation
Resistance 2 5.85897 Daily R2
Resistance 1 5.83686 Daily R1
Support 1 5.76083 Daily S1
Support 2 5.72900 Daily S2

USDTRY Indicator Table - 15/04/2019

Indicator Signal
SMA 20 Buy
SMA 50 Buy
SMA 100 Buy
MACD( 12;26;9) Buy
RSI (14) Buy
Stochastic ( 9;6;3) Sell

USDTRY Indicator / Period Table - 15/04/2019

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

USDTRY 15/04/2019 - Reference Price : 5.79825

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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