country flagالعربية

USD/TRY Daily Technical Analysis | 2 February 2018

2018-02-02 11:15 am | Resource: Technical Analysis Section | No Views : 352

USD/TRY support area of ​​3.7411 on the 60-minute time frame as a result of bear pressure on the pair during the European session.

USD/TRY Daily Technical Analysis | 2 February 2018

The pair is trading in a minor downside direction, and the simple moving average 20 is overlapping with the pair's movement, so our outlook is neutral.
Relative Strength Index 14 is trading in a cross-section between a classical symmetrical triangle.
It is expected that, if the pair breaks the currency against the Turkish currency 3.7211 may target areas of 3.70 on the other side, if the breach of the level of 3.7379 may target 3.7703.
Support: 3.7007 - 3.6484 - 3.6300
Resistance: 3.7411 - 3.799- 3.8424
Trend: neutral

Other news

GBP drops after UK inflation and UK producer data

Pound  fell in European trade on Wednesday after data showed that UK inflation rose to 1.5% in October UK producer prices fell to 0.8% in October UK inflation fell to 1.5% in October UK consumer prices rose to 1.5% in October from the same month last year, the Office for National Statistics said Wednesday. This figure is lower than September when the UK's annual inflation rate was 1.7%. The biggest…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.