CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 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.
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Dollar - Turkish Lira Analysis

EU Session Analysis for CFD Instruments 03/01/2025

Fundamental analysis

03 January, 2025

The US Dollar slightly decreased against the Turkish Lira during the Asian session, above 35.390 levels.

The USDTRY continued climbing this morning and recorded a fresh all time high ahead of today’s release of last month’s Turkish Central Bank Meeting Minutes. The Turkish lira has been under renewed pressure after the Trump administration said it was reviewing Turkey's duty-free access to the U.S. market. In Turkey, CBRT Monetary Policy Meeting Minutes will be published (11:00 GMT). In the US, ISM Manufacturing PMI for December (48.3 exp) and ISM Manufacturing Prices for December (52.0 exp) will be released (13:30 GMT).

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 03/01/2025
Time Frame: 1 hour

USDTRY Support & Resistance Table - 03/01/2025

Support & Resistance Level Explanation
Resistance 2 35.5532 Daily R2
Resistance 1 35.4841 Daily R1
Support 1 35.3000 Daily S1
Support 2 35.2310 Daily S2

USDTRY Indicator Table - 03/01/2025

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 - 03/01/2025

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

USDTRY 03/01/2025 - Reference Price : 35.3921

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (3)Sell (0)
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Risk Warning and Disclaimer: 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 your money. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved 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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