In today’s Asian trading session, the US Dollar experienced a modest rise against the Turkish Lira, positioned just over the 32.200 mark. Both the Turkish and American markets are quiet today with no significant economic reports on the horizon. This calm in data release presents a strategic pause for investors, providing a moment to assess the currency landscape without immediate pressures from new economic data.

Interestingly, amidst this quiet market scenario, individuals utilizing sophisticated AI technology have successfully harnessed these tools to predict currency movements, achieving an impressive 34% Return on Investment within just the last 24 hours. This kind of technology allows for seamless market forecasting, essentially putting portfolio management on autopilot. Discover more about this technological advantage.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 08/05/2024

Time Frame: 1 hour

USDTRY Support & Resistance Table – 08/05/2024

Support & ResistanceLevelExplanation
Resistance 232.4732Daily R2
Resistance 132.3814Daily R1
Support 132.1366Daily S1
Support 232.0448Daily S2

USDTRY Indicator Table – 08/05/2024

IndicatorSignal
SMA 20Sell
SMA 50Sell
SMA 100Sell
MACD( 12;26;9)Sell
RSI (14)Neutral
Stochastic ( 9;6;3)Buy

USDTRY Indicator / Period Table – 08/05/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)NeutralSellSell
SMA 20SellBuyBuy

USDTRY 08/05/2024 – Reference Price : 32.2584

SELLSimple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (1)

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