In today’s Asian trading session, the US Dollar experienced a slight depreciation against the Turkish Lira, positioning itself just under the 32.300 mark. This movement reflects a quieter trading environment, as there are no significant economic announcements scheduled today from either Turkey or the United States that might typically influence fluctuations in this currency pair.

The stability of the Turkish Lira in the absence of domestic economic data suggests that traders might be adopting a wait-and-see approach, possibly in anticipation of broader global economic cues. Similarly, the lack of pivotal data from the U.S. also contributes to a subdued trading atmosphere for the pair.

Investors leveraging advanced AI trading tools have reported remarkable success in this calm market environment. Notably, these tools have enabled users to navigate the subtleties of the forex market efficiently, reportedly generating over a 34% Return on Investment autonomously in the last 24 hours by capitalizing on minor fluctuations effectively. Learn more about their strategy.

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 17/05/2024

Time Frame: 1 hour

USDTRY Support & Resistance Table – 17/05/2024

Support & ResistanceLevelExplanation
Resistance 232.3927Daily R2
Resistance 132.3405Daily R1
Support 132.2013Daily S1
Support 232.1491Daily S2

USDTRY Indicator Table – 17/05/2024

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

USDTRY Indicator / Period Table – 17/05/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)NeutralBuyBuy
RSI (14)BuySellSell
SMA 20BuyBuyBuy

USDTRY 17/05/2024 – Reference Price : 32.2764

BUYSimple Moving AverageBuy (2)Sell (1)Technical Indicators – OscillatorsBuy (1)Sell (1)

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