Dollar - Turkish Lira Analysis

EU Session Analysis for CFD Instruments 23/02/2021

Fundamental analysis

23 February, 2021 Research Department

The USD/TRY edged higher during the Asian session to trade at 7.0190. The pair moved sharply higher on Monday. Turkey’s Capacity Utilization for February rose 74.9%. Its Manufacturing Confidence for February printed at 109.3. Turkey’s Foreign Arrivals for January were down 71.48%, Year-over-Year. In the United States, the Dallas Fed Manufacturing Business index for February came in at 17.2. The U.S. Leading Index for January was reported to be 0.5%.

Technical analysis

Time Frame: 1 hour

USDTRY Support & Resistance Table - 23/02/2021

Support & Resistance	Level	Explanation
Resistance 2	7.0982	Daily R2
Resistance 1	7.0687	Daily R1
Support 1	6.9903	Daily S1
Support 2	6.9608	Daily S2

USDTRY Indicator Table - 23/02/2021

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

USDTRY Indicator / Period Table - 23/02/2021

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

USDTRY 23/02/2021 - Reference Price : 7.0333

Buy

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. 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. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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