During the Asian trading hours today, the US Dollar maintained its strength against the Turkish Lira, surpassing the 32.500 mark. This performance underscores the ongoing volatility in emerging market currencies against a backdrop of sturdy economic indicators from developed nations.
On the domestic front, Turkey remains quiet with no significant economic reports scheduled for release today, leaving traders to focus on external factors influencing the exchange rate. Meanwhile, in the United States, investors are poised for the release of the Durable Goods Orders data. This report is crucial as it provides insights into the health of the US manufacturing sector and potential implications for broader economic activity.
Notably, the use of advanced AI technology has allowed some investors to stay ahead in this fluctuating market. Recent reports highlight that users of this technology have successfully forecasted market trends, achieving an impressive 34% return on investment in just the past 24 hours, by leveraging AI capabilities to anticipate shifts in currency dynamics.
Technical analysis
Time Frame: 1 hour
USDTRY Support & Resistance Table – 24/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.7479 | Daily R2 |
| Resistance 1 | 32.6720 | Daily R1 |
| Support 1 | 32.4694 | Daily S1 |
| Support 2 | 32.3935 | Daily S2 |
USDTRY Indicator Table – 24/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDTRY Indicator / Period Table – 24/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Sell | Sell |
| SMA 20 | Buy | Buy | Buy |
USDTRY 24/04/2024 – Reference Price : 32.5702
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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