In today’s Asian trading session, the U.S. Dollar appreciated significantly, breaching the 32.400 level against the Turkish Lira. This upward movement comes on a day when Turkey has no major economic announcements scheduled, shifting the focus of forex market participants towards forthcoming economic data from the United States, particularly the Retail Sales figures.
The U.S. Retail Sales data, a key economic indicator, is highly anticipated as it provides valuable insights into consumer spending patterns, which are fundamental to assessing the overall health of the U.S. economy. A strong report could bolster the U.S. Dollar further by reinforcing perceptions of a robust economic environment, potentially influencing Federal Reserve policy decisions regarding interest rates.
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As market participants await the U.S. Retail Sales data, the movement of the U.S. Dollar against the Turkish Lira and other currencies will likely be influenced by the outcomes of this report. Traders and investors are advised to stay vigilant, utilizing advanced tools like AI to navigate potential market volatility and capitalize on opportunities presented by real-time economic developments.
Technical analysis
Time Frame: 1 hour
USDTRY Support & Resistance Table – 15/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.5891 | Daily R2 |
| Resistance 1 | 32.5078 | Daily R1 |
| Support 1 | 32.2910 | Daily S1 |
| Support 2 | 32.2097 | Daily S2 |
USDTRY Indicator Table – 15/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
USDTRY Indicator / Period Table – 15/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Sell | Sell | Sell |
| SMA 20 | Buy | Buy | Buy |
USDTRY 15/04/2024 – Reference Price : 32.3822
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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