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Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 23/02/2021

Fundamental analysis

23 February, 2021

The USD/TRY pair traded higher in the European session to 7.0401 as the Greenback increased slightly against a basket of other currencies. Markets showed some concern over the government’s defending policies of Berat Albayrak, a former finance minister and President Tayyip Erdogan’s son-in-law, that saw a sharp decline in foreign exchange reserves. Some saw that as a sign that Albayrak could make a return putting pressure on the Turkish currency.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 23/02/2021
Time Frame: 1 hour

USDTRY Support & Resistance Table - 23/02/2021

Support & Resistance Level Explanation
Resistance 2 7.11866 Daily R2
Resistance 1 7.08923 Daily R1
Support 1 7.01077 Daily S1
Support 2 6.98134 Daily S2

USDTRY Indicator Table - 23/02/2021

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

USDTRY Indicator / Period Table - 23/02/2021

Indicator / Period Day - BuyWeek - SellMonth - Sell
MACD( 12;26;9) Buy SellSell
RSI (14) Buy SellSell
SMA 20 Buy BuySell

USDTRY 23/02/2021 - Reference Price : 7.05000

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