Thread: Usd/try
The Turkish Lira regains some ground near 6.05.
The 10-day SMA around 6.05 offered contention so far.
US April inflation figures coming up next.
Finally some respite for the Turkish Lira, which is now dragging USD/TRY to fresh lows in the 6.05 area, coincident with the 10-day SMA.
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The Turkish Lira Decline May Spread to the EuroThe demand for safe-haven assets has increased after S&P had touched a record high. The problems of the Turkish lira can exacerbate the market concerns.
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Amid the European time frame exchanges yesterday morning neglected to balance out the most astounding 6.2386 help zone because of the bear weight coming about because of the inability to infiltrate the descending pattern line circling in a descending pattern upheld by the breaking pattern line that happened amid the European time frame exchanges yesterday on the time interim and moving normal Simple 20 impartial Asharth because of impedance with the upward value development that happened amid yesterday's exchanges
In case of a break of the U.S. cash pair against the Turkish money 6.1649 may target 6.2776 zones. Then again, in
instance of broken pair of 6.0330 dimension may target 5.8514 opposition: 6.2386-6.3382 – 6.4463
Backing: 6.0790 – 6.0022-5.8514
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Usd/tryTRY depreciates to fresh lows vs. the greenback today.
US-China trade dispute weighs on EM FX space.
CBRT suspends One-Week Repo Rate auctions (again).
The Turkish Lira is now facing increasing selling pressure, lifting USD/TRY to fresh yearly peaks in the boundaries of the 6.25 handle.
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Usd try pr agr hum work kara ga tu huma bhe acha profit earn ho sakhta hai asni say or huma cheya ka us ma acha prodit earn karna ka leay hum support ke help say he hum acha profit kama sakha ga
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zainm6050 (2019-05-21)
USD/TRY
In January of 2005, a new version of the Turkish Lira was issued after the previous Lira's value fell so dramatically that the conversion was $1 to 1.5 million TRY. As the economy relies on foreign cash looking to earn short term profits on higher interest rates, any global headwinds and the subsequent risk off environment can lead to massive depreciations of the Lira. Although the nation wishes to join the Euro-Zone, political conditions in Turkey and economic issues in the EU continue to delay the process.
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The pair against the Turkish currency is trading in a bearish direction on the 60-minute interval. This trend is still weak and the technical indicators are in a non-supportive position.
The 20 SMA has been neutralized as a result of the overlap with the price action.
RSI 14 is trading in a bearish direction. This trend is weak due to a break in the base of the bearish trend
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zainm6050 (2019-05-21)
Moving Averages
Name Simple Exponential
MA5
6.1401
Sell
6.1175
Sell
MA10
6.0547
Buy
6.0665
Buy
MA20
5.9639
Buy
5.9740
Buy
MA50
5.7418
Buy
5.7848
Buy
MA100
5.5290
Buy
5.6567
Buy
MA200
5.5374
Buy
5.4437
Buy
Summary Buy (11)
Sell (1)
Buy
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Targets are 0.8610 and 0.8650. Have in mind that any Brexit headline can spike up or spike down the price as the headline risk is still big. Due to NFP this week, markets are slower and mostly kept within the range so using profit stop is advised.
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Pivot Point: 5.8278
Market Trend: Bearish
Current Position: 5.8294
Moving Average: Sell
Technical Indicators:
STOCHRSI (14) Value: 66.842
STOCH (9,6) Value: 28.786
RSI (14) Value: 26.449
Technically Overviews:
Support 1: 5.8288
Support 2: 5.8274
Support 3: 5.8258
Resistance 1: 5.8298
Resistance 2: 5.8318
Resistance 3: 5.8327
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