We expect the price of the Pound to decline until it reaches the mentioned resistance levels and the upper boundary of the channel shown on the chart before starting to rise.

Today’s USD/TRY Signal

  • Risk 0.50%.
  • The sell trade from yesterday’s recommendation has been activated and the trade is currently being traded.

Best buy entry points

  • Entering a long position with a pending order from the 13.29 levels.
  • Place your stop-loss point below the 13.10 support levels.
  • Move the stop loss to the entry zone and continue profiting when the price moves 50 pips.
  • Close half of the contracts with a profit equal to 75 pips and leave the rest of the contracts up to the high resistance levels at 13.79.

Best Selling Entry Points

  • Entering a short position with a pending order from the 13.71 levels.
  • The best points to place the stop loss are above the 13.89 levels.
  • Move the stop loss to the entry zone and continue profiting when the price moves 50 pips.
  • Close half of the contracts with a profit equal to 75 pips and leave the rest of the contracts until the support level 13.30

The Turkish lira fell in early trading on Thursday as investors followed data from the Turkish Statistical Office, which showed a rise in the consumer price index. It measures changes in the general price level by tracking all consumer goods and services. By 11.10% per month and by 48.69% compared to December last year. The annual inflation rate of the national producer price index was 93.53%. Inflation in the country reached its highest level in twenty years and continued to rise for the eighth consecutive month. Istanbul’s Chamber of Neighbors announced in a statement released yesterday that the inflation rate had reached almost 51%.

On a technical level, the price of the Turkish lira fell against the dollar during yesterday’s session, and at the start of today’s session, after the lira rebounded from resistance levels. that we mentioned in yesterday’s report, which are centered on the 13.57 levels, where the lira is still trading below the resistance levels concentrated at 13.67 and 1371 respectively. The highest support levels are trading at 1:30 p.m., 1:22 p.m. and 1:08 p.m. Meanwhile, the Pound is trading in a bullish channel on the 60-minute time frame. The pair also rose to trade above the 50, 100 and 200 moving averages, over the four-hour timeframe, as well as the 60-minute timeframe. As the lira always trades within a limited range, we expect the price of the Pound to decline until it reaches the mentioned resistance levels and the upper boundary of the channel shown on the chart before starting to rise. Please respect the numbers in the recommendation with the need to maintain capital management.