Turkish lira (usdtry) technical analysis forecast update
What’s new in turkey?
Well from the last time I spoke on the usdtry a lot of things happen:
New Prime Minister Binali Yildirim
New Turkish cabinet
Turkey’s Central Bank Cuts Overnight Lending Rate to 9.50%
Turkey’s parliament will block a deal with the EU on migrants if Turks do not gain visa-free access to the bloc
Yesterday Turkish lira strength more than 2.0 % against the dollar yesterday after usdtry traded in the morning above 3.00 it finished the day at 2.9430
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| usdtry |
Turkish Lira technical analysis:
As I mention the last post on usdtry
Break up 2.98-3.00 will lead the usdtry to 3.25 price level, while before that we have resistance at 2.89-2.91
Below that we have 2.86 zones would lead to 2.83 and to 2.79
Breakdown 2.78 level will send the pair to the 2.65-66
Conversely up crossing the 2.87 area confirming the continuation of the main trend
Turkish lira – USD/TRY
Major support: 2.78
Well, for now, there is no major sign for change trends in Turkish lira
We need to keep an eye on some levels watch and see if there will break up /down
break down 2.88-2.89 will lead for an aggressive move while going back above 2.98+- can bring the usdtry above 3 to the decision i mentions my last post
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| Turkish lira |
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