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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.

Dollar - Turkish Lira Analysis

EU Session Analysis for CFD Instruments 29/01/2021

Fundamental analysis

29 January, 2021

The USD/TRY moved firmly higher to trade at 7.3697. The pair tumbled on Thursday in several steep drops. Turkey’s central bank released the minutes of its latest monetary policy meeting but movement in the Lira was based on weakness in the US Dollar. 4th Quarter GDP in the United States came in at 4.0%, as expected. Initial Jobless Claims for the past week were 847,000, below the analysts’ forecast of 875,000.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 29/01/2021
Time Frame: 1 hour

USDTRY Support & Resistance Table - 29/01/2021

Support & Resistance Level Explanation
Resistance 2 7.41442 Daily R2
Resistance 1 7.39380 Daily R1
Support 1 7.33880 Daily S1
Support 2 7.31818 Daily S2

USDTRY Indicator Table - 29/01/2021

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

USDTRY Indicator / Period Table - 29/01/2021

Indicator / Period Day - SellWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellBuy
RSI (14) Neutral SellSell
SMA 20 Neutral SellSell

USDTRY 29/01/2021 - Reference Price : 7.36630

Sell
Simple Moving AverageBuy (0)Sell (2)
Technical Indicators - OscillatorsBuy (1)Sell (1)
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US Dollar - Turkish Lira Chart
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