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 02/02/2023

Fundamental analysis

02 February, 2023

The USD/TRY inched higher this morning at 18.8104. Turkey has no economic events scheduled to report. The United States reported ISM Manufacturing PMI for January at 47.4 vs 48.0. Nonfarm Employment Change printed 106k vs 178k. JOLTs Job Openings for December were reported at 11.012m vs 10.250m. Initial Jobless Claims will be reported later today.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 02/02/2023
Time Frame: 1 hour

USDTRY Support & Resistance Table - 02/02/2023

Support & Resistance Level Explanation
Resistance 2 18.8642 Daily R2
Resistance 1 18.8405 Daily R1
Support 1 18.7773 Daily S1
Support 2 18.7536 Daily S2

USDTRY Indicator Table - 02/02/2023

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

USDTRY Indicator / Period Table - 02/02/2023

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

USDTRY 02/02/2023 - Reference Price : 18.8166

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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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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