CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.91% 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.
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Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 16/01/2025

Fundamental analysis

16 January, 2025

The US Dollar decreased against the Turkish Lira during the European session, trading below 35.440 levels.

The USD/TRY currency pair has been under negative pressure since this morning, after weaker than expected Inflation Data from the US yesterday. In Turkey, Net FX Reserves data (67.67% last month) will be posted (11:30 GMT). In the US, Retail Sales data for December (0.6% expected) and Philadelphia Fed Manufacturing Index data for January (-5.2 exp) will be released (13:30 GMT).

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 16/01/2025
Time Frame: 1 hour

USDTRY Support & Resistance Table - 16/01/2025

Support & Resistance Level Explanation
Resistance 2 35.5142 Daily R2
Resistance 1 35.4822 Daily R1
Support 1 35.3966 Daily S1
Support 2 35.3646 Daily S2

USDTRY Indicator Table - 16/01/2025

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

USDTRY Indicator / Period Table - 16/01/2025

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

USDTRY 16/01/2025 - Reference Price : 35.4458

Sell
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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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 Canadian Investment Regulatory Organization (CIRO) 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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