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
Time Frame: 1 hour
USDTRY Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 32.4732 | Daily R2 |
| Resistance 1 | 32.3814 | Daily R1 |
| Support 1 | 32.1366 | Daily S1 |
| Support 2 | 32.0448 | Daily S2 |
USDTRY Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Buy |
USDTRY Indicator / Period Table – 08/05/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Sell | Sell |
| SMA 20 | Sell | Buy | Buy |
USDTRY 08/05/2024 – Reference Price : 32.2584
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (1) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
