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Dollar - Turkish Lira Analysis

EU Session Analysis for CFD Instruments 08/11/2018

Fundamental analysis

08 November, 2018

The USD/TRY traded higher during the Asian session on Thursday at 5.3762 as the dollar strengthened against a basket of other currencies following the midterm elections which delivered a split verdict with Democrats winning the House and the Republicans retaining the Senate. US Turkey relations have improved following the announcement of a US move to offer rewards for information on three members of the outlawed Kurdistan Workers Party that Turkey considers an important terrorist organisation. The US recently added Turkey to its list of countries temporarily exempt from importing oil from Iran, due to its sanctions against the country. Geopolitical issues have come together recently and helped to support the Turkish Lira which this week has traded at levels not seen since September.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 08/11/2018
Time Frame: 1 hour

USDTRY Support & Resistance Table - 08/11/2018

Support & Resistance Level Explanation
Resistance 2 5.4470 Daily R2
Resistance 1 5.4120 Daily R1
Support 1 5.3519 Daily S1
Support 2 5.3230 Daily S2

USDTRY Indicator Table - 08/11/2018

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

USDTRY Indicator / Period Table - 08/11/2018

Indicator / Period Day - BuyWeek - SellMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Neutral NeutralBuy
SMA 20 Buy SellBuy

USDTRY 08/11/2018 - Reference Price : 5.3801

Buy
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (2)Sell (0)
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