CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 67.52% 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 all your money. Read full risk warning.

Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 21/06/2023

Fundamental analysis

21 June, 2023

During European trading, the pair edged upwards, trading at 23.5909 coming very close to last week’s record high. The Lira’s declines come after the narrow victory of President Erdogan in the Turkish elections, confirming Turkey’s ultra easy policy. On the other hand, Hafize Gaye Erkan, the new Turkish central bank governor, was appointed and analysts are expecting Tukrey to begin hiking interest rates soon.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 21/06/2023
Time Frame: 1 hour

USDTRY Support & Resistance Table - 21/06/2023

Support & Resistance Level Explanation
Resistance 2 23.78115 Daily R2
Resistance 1 23.68198 Daily R1
Support 1 23.41752 Daily S1
Support 2 23.31835 Daily S2

USDTRY Indicator Table - 21/06/2023

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

USDTRY Indicator / Period Table - 21/06/2023

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

USDTRY 21/06/2023 - Reference Price : 23.54975

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