All Articles Tagged - USDTRY

Technical Analysis – USDTRY could see further improvement in near term

Posted on March 29, 2019 at 12:34 pm GMT

USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, around 5.5970 on Friday. Over the last couple of days, the price has been paring the losses that were posted at the beginning of this week, creating sessions with strong momentum. Looking at the technical indicators, the stochastic is switching to the upside after the rebound on the 20 level and the bullish cross within the %K and %D [..]

Technical Analysis – USDTRY continues to consolidate in a sideways range

Posted on February 22, 2019 at 12:42 pm GMT

USDTRY remains neutral in the medium-term, staying trapped in a sideways range with an upper bound at 5.55 and a lower end at 5.15 since the beginning of November. Confirming the absence of a trend, the 50- and 200-day simple moving averages (SMAs) are very close to each other and have flattened out. Indeed, the RSI is close to its neutral level, though is pointing slightly higher, while the MACD is adjacent to its red trigger line – both leveling [..]

Technical Analysis – USDTRY unlocks 2-week high, creating significant gains

Posted on December 4, 2018 at 2:15 pm GMT

USDTRY strengthened sharply today, climbing to a new two-week high, around 5.3653, extending its run from the pullback on 5.1330. The bullish picture in the very short-term is further supported by the RSI, which is rising above the 50 level and the stochastic oscillator hovers in the overbought territory. Also, the price advances above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. In the event of further upside reversal, the 5.4360 could act as a barrier before being [..]

US Open Preview – Pound bounces up as geopolitics weigh on dollar; gold rallies to 3-month highs

Posted on October 15, 2018 at 12:06 pm GMT

Here are the latest developments in global markets: FOREX: After starting the day with a gap down at 1.3082, pound/dollar managed to turn positive during the early European session, rallying to 1.3170 (+0.12%) mainly due to a weaker dollar. Brexit uncertainties continued to linger in the background as the talks between Brexit negotiators failed to break the Irish deadlock on Sunday, though some officials showed optimism that a deal could be agreed in coming weeks. The yen attracted further demand in the [..]

US Open Preview – Euro, pound erase gains; equities take off as risk-off recedes

Posted on October 12, 2018 at 11:45 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen moved off one-month lows, trading marginally up at 112.32 (+0.13%) as US 10-year Treasury yields slightly rebounded despite US President’s criticism on monetary policy and as risk aversion eased. Trade fears also somewhat calmed down after Chinese exports in September surprised analysts, showing a double-digit growth of 14.5% y/y, the highest since February, while imports appeared weaker than expected. News that the US and the Chinese President could hold a meeting in November and headlines [..]

US Open Preview – Dollar cautious ahead of US CPI; Europe joins in global stock sell-off

Posted on October 11, 2018 at 11:14 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was barely moving around 112.22 after dropping to 111.95 early on Thursday as US 10-year Treasury yields weakened to 3.15% from 3.24% on Wednesday. Trade worries were also weighing on investors appetite despite China’s Commerce Ministry saying Beijing is open for dialogue with Washington. US CPI figures later today could bring fresh waves of volatility to the greenback (see below). The dollar index was struggling too at 95.32 (-0.20%) on the [..]

US Open Preview – Dollar holds above 114 vs yen as US bond yields soar; US factory orders pending

Posted on October 4, 2018 at 12:08 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar retreated by 0.33% to 114.16 against the Japanese yen on Thursday after topping at 114.54 on Wednesday, the highest in 11 months. Following yesterday’s positive US data and hawkish comments from Federal Reserve Chairman Jerome Powell, US 10-year government bond yields spiked as high as 3.23% today, a level never seen since June 2011. Powell said that interest rates still have a long way to go to reach neutral levels, flagging that additional rate [..]

European Open Preview – Dollar gains, euro tumbles; Eurozone flash inflation and US core PCE due

Posted on September 28, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.17% against a basket of six major currencies on Friday, extending the significant gains it recorded in the previous session. The euro, which holds the largest weight by far among those six currencies, edged lower as concerns around the Italian budget intensified. STOCKS: Wall Street roared back on Thursday, with all the major indices closing in the green, aided by gains in tech giants like Apple [..]

European Open Preview – Dollar capitalizes on euro jitters; German inflation coming up

Posted on September 27, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies– is higher by 0.35% on Thursday. This is owed mainly to weakness in the currency that has the biggest weight in this index by far, the euro, which is under pressure amid fresh worries around the Italian budget situation. The kiwi, meanwhile, responded little to the RBNZ rate decision overnight, though it is trading lower overall [..]

US Open Preview – Pound best performer on MPC Vlieghe’s rate forecasts

Posted on September 25, 2018 at 11:17 am GMT

Here are the latest developments in global markets: FOREX: The Japanese yen remained under pressure versus the US dollar as the 10-year US government bond yields reached fresh 4 ½-year highs at 3.10%. Dollar/yen returned to 112.88 (+0.08%) after peaking as high as 112.96 early today, the highest since July 19, while the dollar index stood flat at 94.16. Following somewhat dovish comments by the ECB chief economist Peter Praet, euro/dollar dropped to a low of 1.1731 before crawling up to 1.1762 (+0.12%). [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

USDTRY

XM Live Chat