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Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 15/05/2019

Fundamental analysis

15 May, 2019

USD/TRY pushed higher as the dollar slightly grew and the Lira again lost value against a basket of other currencies. Turkey has raised a tax on some foreign exchange sales to 0.1% from zero, the country’s latest effort to discourage a months-long trend of Turks selling the beleaguered lira for more stable dollars and euros. The move comes after days of intervention by state banks, which have spent billions of dollars in foreign markets to support the lira. In a separate budget-boosting measure on Tuesday, Turkey raised taxes on lower-valued packages from abroad. Since last year’s currency crisis, when the lira lost as much as half its value against the dollar, a loss of confidence among local investors has pushed up foreign-currency deposits and funds including precious metals over the last six months. In the US, Retail Sales data for April will be released today at 13:30 GMT+1.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 15/05/2019
Time Frame: 1 hour

USDTRY Support & Resistance Table - 15/05/2019

Support & Resistance Level Explanation
Resistance 2 6.13410 Daily R2
Resistance 1 6.10829 Daily R1
Support 1 6.01800 Daily S1
Support 2 5.99000 Daily S2

USDTRY Indicator Table - 15/05/2019

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

USDTRY Indicator / Period Table - 15/05/2019

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

USDTRY 15/05/2019 - Reference Price : 6.06205

Buy
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (1)Sell (1)
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US Dollar - Turkish Lira Chart
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