CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Dollar - Turkish Lira Analysis

EU Session Analysis for CFD Instruments 20/05/2021

Fundamental analysis

20 May, 2021

The USD/TRY edged higher during the Asian session to trade at 8.4146. The pair moved slightly higher on Wednesday in a wild session for the markets. Turkey did not report any economic data due to a public holiday. Later in the session Federal Reserve meeting minutes showed participants agreed the U.S. economy remained far from the central bank’s goals, with some eyeing a future discussion of tapering its bond buying program.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 20/05/2021
Time Frame: 1 hour

USDTRY Support & Resistance Table - 20/05/2021

Support & Resistance Level Explanation
Resistance 2 8.4511 Daily R2
Resistance 1 8.4228 Daily R1
Support 1 8.3472 Daily S1
Support 2 8.3189 Daily S2

USDTRY Indicator Table - 20/05/2021

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

USDTRY Indicator / Period Table - 20/05/2021

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

USDTRY 20/05/2021 - Reference Price : 8.3657

Sell
Simple Moving AverageBuy (1)Sell (2)
Technical Indicators - OscillatorsBuy (0)Sell (3)
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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 Investment Industry Regulatory Organization of Canada (IIROC) 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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