USD TRY – Turkish Lira Price Technical Analysis Forecast
2017 opened with massive movements on currency markets, with an impressive strengthening of the dollar against all currencies, After the Turkish lira almost reached to 4 against the USD we saw a recovery in the try.
After the Turkish lira almost reached to 4 in the beginning of 2017 yesterday we saw USD TRY below 3.50 – this price didn’t appear on the screen since last year
Federal funds rate by 25bps to 1.00-1.25% yesterday and despite those facts, the Dollar didn’t make some crucial moves only Restored the losses of the morning against the euro and others currencies’
Fed is still projecting another rate hike this year
Today will announce TCMB Interest Rate Decision But there no any plans for changing rates- keeping on 8% like it was
Technical analysis
Now you must pay attention for this price level! –closed below this level will send the Turkish lira 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 3.47-9 on weekly basis will send the Turkish to 3.34-6
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| USD TRY ANALYSIS |
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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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