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Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 31/07/2020

Fundamental analysis

31 July, 2020

The USD/TRY fell to 6.9760 on Friday during the European session as the dollar fell slightly lower against a basket of other currencies. On Wednesday the pair hit 7 after Central Bank Governor Murat Uysal downplayed concerns about the bank's depleted FX reserves, which he said would naturally fluctuate during a pandemic. He did not address a drop of as much as 1.8% in the currency this week that could put more pressure on that buffer.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 31/07/2020
Time Frame: 1 hour

USDTRY Support & Resistance Table - 31/07/2020

Support & Resistance Level Explanation
Resistance 2 7.02930 Daily R2
Resistance 1 7.00538 Daily R1
Support 1 6.94162 Daily S1
Support 2 6.91770 Daily S2

USDTRY Indicator Table - 31/07/2020

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 - 31/07/2020

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

USDTRY 31/07/2020 - Reference Price : 6.97350

Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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US Dollar - Turkish Lira Chart
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