CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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