Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 21/03/2024

Fundamental analysis

21 March, 2024

The US Dollar climbed against the Turkish Lira during the European session trading above 32.400 levels.

Turkey is not anticipated to release any significant economic data. Yesterday, the Federal Reserve of the United States chose to maintain unchanged interest rates. Nevertheless, based on the Fed's dot plot, there are signals of three potential 0.25% rate cuts in 2024, with additional reductions of 0.25% forecasted for 2025.

Technical analysis

Time Frame: 1 hour

USDTRY Support & Resistance Table - 21/03/2024

Support & Resistance	Level	Explanation
Resistance 2	32.2909	Daily R2
Resistance 1	32.2276	Daily R1
Support 1	32.0586	Daily S1
Support 2	31.9953	Daily S2

USDTRY Indicator Table - 21/03/2024

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

USDTRY Indicator / Period Table - 21/03/2024

Indicator / Period	Day - Sell	Week - Buy	Month - Buy
MACD( 12;26;9)	Buy	Buy	Buy
RSI (14)	Sell	Buy	Buy
SMA 20	Sell	Buy	Buy

USDTRY 21/03/2024 - Reference Price : 32.1431

Sell

Simple Moving Average	Buy (1)	Sell (2)
Technical Indicators - Oscillators	Buy (1)	Sell (2)

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