We expect the lira’s decline to continue, as every decline on the pair represents an opportunity to repurchase.

Today’s recommendation on the lira against the dollar

Risk 0.50%.

The buy deal on Thursday was activated and a profit was exited from the deal with half the contracts closed and the stop loss point moved as the price progressed towards the target

Best selling entry points

• Entering a sell position with a pending order from 17.41 levels
• Set a stop-loss point to close the lowest support levels 17.65.
• Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.
• Close half of the contracts with a profit equal to 55 pips and leave the rest of the contracts until the strong resistance levels at 16.40.

Best entry points buy

• Entering a buy position with a pending order from 17.00 مستويات levels
• The best points for setting the stop loss are closing the highest levels of 16.88.
• Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.
• Close half of the contracts with a profit equal to 55 pips and leave the rest of the contracts until the support levels 17.40

The Turkish lira continued to decline against the dollar after a kind of rise during trading last Friday, as the Turkish government announced a set of measures that indirectly aim to tighten monetary policy and withdraw funds from the markets. On the one hand, a new type of bond was announced, which is expected to Its details will be revealed during the middle of this month, the Turkish government announced raising taxes on consumer loans from 5 percent to 10 percent. The Banking Supervision Authority has also reduced the repayment periods of these loans while raising the minimum monthly payments for credit card payments. The new measures aim to control inflation and raise the value of the lira, which is the worst emerging currency in terms of declines during the current year.

On the technical level, the Turkish currency continued to decline against the dollar, as it returned to trading at the highest levels of 17 during today’s trading, after breaking this level downward during last Friday’s trading. The pair maintained its trading in an upward general direction as the pair continued trading above the 50 moving averages, and 100 and 200 respectively on the four-hour time frame as well as on the 60-minute time frame. At the same time, the pair is trading above the support levels that are concentrated at 17.00 and 16.80 levels, respectively. On the other hand, the lira is trading below the resistance levels at 17.40 and 17.80, respectively. The level of 17.40 represents a strong resistance level. We expect the lira’s decline to continue, as every decline on the pair represents an opportunity to repurchase, especially if it crosses the mentioned resistance levels. Please adhere to the numbers in the recommendation with the need to maintain capital management.

I would love to see this pair bounce a bit so that I can sell it heading closer to the weekend.

The euro initially tried to rally on Tuesday but gave back the gains as we approached the 1.06 level. This is an area that has been a bit difficult to overcome as of late, so is not a huge surprise to see that the market wilted as we approached it. That being said, most of what the market is paying attention to will be the CPI numbers over the next 24 hours, as the Consumer Price Index is a good read on inflationary pressures. The CPI number coming out hotter than anticipated would be a potential reason for this market to break down below the 1.05 level, just as a CPI reading that was much lower than anticipated could have the market rallying.

Looking at this chart, you can see that it has been rather tight for the last two weeks, which is typical of a market that is trying to build up the necessary momentum to get moving for a bigger high or low. The market will react accordingly, but at this point, you should keep in mind that the market is most certainly bearish, so it is difficult to imagine a scenario where we suddenly change everything.

If we do get a rally at this point, the 1.08 level above will be a barrier that is going to be difficult to overcome. The 50-day EMA sits there, as well as the “market memory” of the pair initially having support there. That should translate into resistance now, and as a result, on any type of rally I will be looking for signs of exhaustion in that area that I can jump all over to get “cheap US dollars.”

As far as buying this pair is concerned, I would not be interested until we can break above the little “ledge” that sits at the 1.0933 level, which had been so resistive just a couple of weeks ago. If we can break above there, then I would be convinced that we have something going. We would have to have a reversal of almost everything in the world to make that a reality, so I just do not see that happening. I would love to see this pair bounce a bit so that I can sell it heading closer to the weekend. However, I will also be a seller if we break down below the recent lows.