Turkish lira raised below 3.50 against us dollar, when it will stop?
Turkish lira technical analysis update
Turkish lira raised the lowest level of the last two months against us dollar, coming in at 3.4920 Monday, fell below the 3.50 level today. The dollar had reached a historic high against the lira on January 10 at 3.9350.
The USD / TRY rate continues to maintain its horizontal course. In global markets, the calm course in the dollar supports the moderate driving of the currencies in the emerging market. This situation can not strengthen the uptrend of USD / TL and enables TL assets to make an optimistic picture against the Dollar. In the new week, Forex markets began to calm down. However, this week's Jackson Hole week may lead to cautious moves on the market ahead of the meeting.
lets see what was at the beginning of 2017
On the other hand, it is stated that the chief strategist under US President D. Trump has left his job. The uncertainties for Trump management continue to persist, which can be interpreted as an obstacle to the strength of the Dollar. Hence, it is worth keeping a close watch on the news streams related to Trump this week
The Turkish Lira is the week in which the Fed and the ECB meet with "pigeon" and inflation worried statements Along with many emerging-market currencies.
The FED's worries about inflation were already known. But The ECB, which has struggled with a defensive deflation, It is reflected in the minutes that may be offensive to the euro. Valuable
Euro, a limiting effect on regional inflation Policy change from Draghi for a while not be expected.
ECB's Hawk softening, bond interest Contributing to gold and developing country currencies
Provided.
Technical analysis:
Now you must pay attention for this price level! – closed below this level will send the Turkish lira to cope with 3.40+_ price area, or even to lower price to the 3.34-3.36 price level
while stay above those levels could send the usd try to 3.56-.359 price levels
The only move above 3.56-59 will confirm the end of these corrections
Long-term trend forecast moved is still up as long as 3.34 will hold!
Break below 3.34-6 on weekly basis will send the Turkish to 3.24-6
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This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
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