Today’s recommendation on the lira against the dollar

• Risk 0.50%.
• None of the buy or sell transactions of yesterday were activated

Best selling entry points

Entering a short position with a pending order from levels of 18.33

• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

Entering a buy position with a pending order from levels of 17.85

• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

Analysis of the Turkish lira

The price of the USD/TRY only moved slightly during today’s early trading, the dollar had risen near levels of 18 lira yesterday, before the pair returned to stability below this level. The dollar rose against the major currencies during yesterday’s trading after the announcement of the FOMC meeting minutes, which showed the possibility that the Fed will start moving interest rates at a slower pace depending on the circumstances and economic data. Some Fed members also saw the possibility of keeping the interest rate at elevated levels for a period of time even as inflation began to be brought under control.

Despite the dollar’s gains against most major currencies and emerging market currencies, the US currency did not move only slightly against the lira, as observers attributed the intervention of the Turkish Central Bank directly to impose a kind of stability for the lira price. It is noteworthy that the Turkish Central Bank is suffering from a decline in the volume of foreign exchange, but the bank has received support of several billions from Russia within the project to establish a nuclear plant in the country.

Turkish Lira Technical Outlook

On the technical front, the US dollar against the Turkish lira settled without changes within the same narrow trading range shown on the chart. The pair traded the highest support levels, which are concentrated at 17.85 and 17.75 levels, respectively. While the lira is trading below the resistance levels at 18.00 and 18.07, respectively. The pair is also trading above the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the long-term bullish trend. The chance of the lira rising against the dollar is still slim as the pair is heading in an overall bullish trend. As each decline of the pair represents a good buying opportunity, please adhere to the numbers in the recommendation, with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

None of the buy or sell transactions of yesterday were activated

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

USD/TRY Technical Analysis

The lira stabilized without changes in the price of the USD/TRY currency pair as the pair is trading within a very narrow range. This is amid the absence of influential data from inside Turkey during the day, as well as the clear interference by the Central Bank of Turkey to control the price of the dollar against the lira. Investors followed reports on the Russian-Turkish consensus on the adoption of the local currency in the trade exchange between the two countries. The two sides agreed to pay part of Turkey’s natural gas imports in Russian rubles, which may contradict a series of Western sanctions against Moscow. In the same context, a report from the American Newsweek magazine stated that the percentage of Turkish real estate sales to Russian citizens increased during the current year, so that the Russians topped the purchases of real estate in Turkey before the Iranians and Iraqis. It is noting the lack of significant economic impact, especially amid the country’s suffering of inflation levels that have not been recorded for nearly 25 years.

The economic situation is not expected to improve significantly in light of the Turkish Central Bank’s adherence to a stimulus policy in exchange for monetary tightening in the United States, which raises the value of the dollar.

Turkish Lira Technical Analysis

The US dollar against the Turkish lira settled within the same narrow trading range shown on the chart. The pair traded the highest levels of support, which are concentrated at the levels of 17.85 and 17.75, respectively. While the lira is trading below the resistance levels at 18.00 and 18.07, respectively. The pair is also trading above the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the long-term bullish trend. The chance of the lira rising against the dollar is still slim as the pair is heading in an overall bullish trend. As each decline of the pair represents a good buying opportunity, please adhere to the numbers in the recommendation, with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

The buy deal of Thursday was activated and the exit was made after making a profit with closing half of the contracts and moving the stop-loss point as the price progressed towards the target.

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

The price of the Turkish lira against the US dollar has stabilized unchanged at the same level for nearly three weeks, which clearly shows the intervention of the Turkish Central Bank in the exchange markets to achieve a kind of balance for the price of the USD/TRY currency pair. Indirectly, the Turkish Central Bank began preparing the atmosphere for a further decline of the lira against the dollar, after a poll published at the end of last week, which included the opinions of some representatives of the financial sector in the country, which showed a downward trend in the lira price. Expectations focus on the dollar reaching levels of 19 pounds by the end of this year. The poll also included pessimistic expectations regarding inflation levels in the country. In general, the economic data shows that there is no significant improvement in the upcoming expectations, which may be reflected in the price of the lira, which has no choice but to decline.

Technical Analysis

On the technical front, the US dollar against the Turkish lira settled without changes, as the pair settled within the same narrow trading range shown on the chart. It is an image that reflects the extent of the Turkish Central Bank’s control over setting a ceiling on the price of the lira. The pair maintained trading between the support levels that are concentrated at 17.85 and 17.75, respectively. While the lira is trading below the resistance levels at 18.00 and 18.07, respectively. The pair is also trading above the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the long-term bullish trend. The chance of the lira rising against the dollar is still slim as the pair is heading in an overall bullish trend. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

Yesterday’s sell trade was activated, and the exit was made after making a profit with closing half of the contracts and moving the stop-loss point as the price progressed towards the target.

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

Analysis of the Turkish lira

The price of the Turkish lira stabilized against the US dollar during the early trading of today, Wednesday. The interventions of the Turkish Central Bank clearly appear in the price movements of the lira strongly against the dollar during a specific time within today’s trading before the pair returns to the normal course of trading. The Turkish Central Bank pumped dollars in liquidity into the markets to preserve the value of the lira, especially after the increase in the volume of foreign reserves in the country thanks to Russian transfers that took place in order to start implementing a nuclear plant in Turkey. The lira, which has halved against the dollar over 12 months, is suffering. This was reflected in inflation in the country, which recorded its highest level in 24 years at 79.6 percent during the month of July. The price of the lira is not expected to improve in light of the continuation of the current monetary policy without changes.

On the technical front, the USD/TRY currency pair settled near its highest levels this year. With the exception of a strong movement that appeared quickly during yesterday’s trading, the lira strongly pushed against the dollar before the pair returned to where the narrow trading range is, with the same trading image that the pair has been following since the beginning of this month, which is shown in the chart. The pair is trading above the 50 and 100 moving averages and 200, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the bullish trend over the long term. At the same time, the pair is trading the highest levels of support, which are concentrated at 17.90 and 17.85 levels, respectively. While the lira is trading below the resistance levels at 18.00 and 18.07, respectively. We expect to re-record new highs, especially with every dip in the pair, which represents a buying opportunity. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

None of yesterday’s buy or sell transactions were activated

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

The price of the Turkish lira stabilized against the US dollar during the early trading today, Tuesday, as the Turkish lira completed its trading in the narrow range in which it has been trading since the beginning of this month, near its lowest levels during 2022. The lira is not expected to witness any improvement, especially in light of unstable global economic conditions. As the US jobs data contributed to raising expectations of monetary tightening in the United States, which means the strength of the dollar, while on the other hand, the Treasury and the Central Bank of Turkey are trying to take advantage of all available solutions to maintain the stability of the lira, which suffers from a monetary policy A stimulus that the Turkish Central Bank maintains in light of inflation figures that the country has not witnessed for a quarter of a century.

Technical Analysis

On the technical front, the US dollar pair settled against the Turkish lira near its highest levels this year. As the pair’s movement continued in a narrow trading range with the same trading picture that the USD/TRY currency pair has been following since the beginning of this month, as shown through the graph.. The pair is trading above the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame. On the upside in the long term. At the same time, the pair is trading the highest levels of support, which are concentrated at 17.90 and 17.85 levels, respectively. While the lira is trading below the resistance levels at 18.00 and 18.07, respectively. We expect to re-record new highs, especially with every dip in the pair, which represents a buying opportunity. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

None of the buying or selling transactions were activated yesterday, Wednesday

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

Analysis of the Turkish Lira

The Turkish lira fell against the dollar during trading yesterday, Wednesday, after the country’s inflation data released yesterday, the number rose by 2.37%. It recorded 79.6% during the month of July. The interventions of the Central Bank of Turkey are clear, as the dollar crossed the levels of 18 lira for a while before falling again to levels of 17.90, the same levels that the pair has been trading at about two weeks ago. Despite the intervention of the Central Bank of Turkey, the impact of these interventions is limited. This is especially with the reduction of solutions available to the bank’s board of directors in light of adhering to an incentive policy that refuses to raise the interest rate to keep pace with other central banks around the world. This increases the pressure on the price of the lira.

Turkish Lira Technical Forecast

The Turkish lira fell against the US dollar, as it recorded a new high at 18.07 levels, the highest level for the dollar against the lira this year. In general, the pair’s movement continued with the same trading pattern as the pair since last week. Where the lira traded around the highest recorded during the current year. The pair is trading above the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the long-term bullish trend. The pair is also based on the rising trend line on the four-hour time frame shown on the chart, at the same time the pair is trading the highest support levels that are concentrated at 17.90 and 17.85 levels, respectively. The lira is trading below the resistance levels at 18.00 and 18.07, respectively. We expect to re-record new highs, especially with every dip in the pair, which represents a buying opportunity. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

Yesterday’s buy trade was activated, and half of the contracts were closed with the price rising towards the target and providing a stop loss point.

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

Analysis of the Turkish lira

The Turkish lira fell slightly to exceed the peak recorded during this year after inflation data issued by the country’s Statistics Institute today. The data revealed that the country’s inflation rate rose to a new high compared to June, the number had risen by 2.37%. Recording 79.6% during July, the highest level since 1998. The report attributed the main increase in the Consumer Price Index due to a jump in transport prices, which rose by 119.11% on an annual basis. The rise in the prices of energy imports was primarily responsible for these rises, as Turkey is one of the countries that imports most of its energy needs. Experts do not expect the possibility of controlling the inflation rate in light of the stimulus policy pursued by the Turkish Central Bank, which is under the effective control of the country’s President Recep Tayyip Erdogan, who believes that the interest rate is the mother of all evils.

Lira Technical Outlook

The Turkish lira fell against the US dollar, as it recorded a new high at 17.98, the highest level for the dollar against the lira this year. In general, the pair’s movement continued with the same trading pattern that the pair has been following since last week. The lira traded around the highest recorded during the current year, after falling with a strong candle during yesterday’s trading. The intervention of the Turkish Central Bank in the strong movements of the pair appears on the pullbacks shown on the chart, before the pair’s rise returns. The pair is trading above the moving averages 50, 100 and 200 respectively on the four-hour time frame as well as on the 60-minute time frame, indicating the bullish trend on the medium term. The pair is also trading above the rising trend line on the four-hour time frame, shown on the chart, at the same time, the pair is trading the highest support levels that are concentrated at 17.80 and 17.70 levels, respectively. While the lira is trading below the resistance levels at 18.00 and 18.32, respectively. We expect to re-record new highs, especially with every dip in the pair, which represents a buying opportunity. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

Yesterday’s buy trade was activated, and half of the contracts were closed with the price rising towards the target and providing a stop loss point.

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• 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 17.70.

Best buy entry points

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• 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 18.31

Analysis of the Turkish lira

The Turkish lira stabilized near its lowest level this year against the dollar, amid noticeable interventions by the Turkish Central Bank to control the price of the lira against the dollar, and work to stabilize it at the current borders. A report published by Reuters yesterday, which includes a poll on inflation expectations in the country, showed that inflation is expected to rise to record levels of 80 percent before declining to levels of 70 percent at the end of this year. This contradicts the statements of the Turkish Minister of Finance and Treasury last week, which expected the country’s inflation to rise to 60.4%. It is noteworthy that Turkish energy imports are the main reason for the rise in inflation, as Turkey imports most of its energy needs, which rose in the wake of the Russian invasion of Ukraine. It is noteworthy that there are other unchanged factors that pressure the price of the lira, most notably the stimulus policy of the Turkish Central Bank, which adheres to fixing the interest rate in light of the tightening of other central banks of monetary policy.

On the technical level, the Turkish lira stabilized against the US dollar at the peak recorded during the current year, after a temporary decline during yesterday’s trading. Where the intervention of the Central Turkish in the strong movements of the pair appears on the pullbacks shown on the chart, before the pair’s rise returns. The pair is trading above the rising trend line on the four-hour time frame, shown on the chart, at the same time, the pair is trading above the highest support levels that are concentrated at 17.80 and 17.70 levels, respectively. Meanwhile, the lira is trading below the resistance levels at 18.00 and 18.32, respectively. The pair is also trading above the moving averages 50, 100 and 200, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the bullish trend on the medium term. We expect to re-record new highs, especially with every dip in the pair, which represents a buying opportunity. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

None of the buy or sell trades of yesterday’s recommendations were activated

Best selling entry points

• Entering a short position with a pending order from levels 17.45
• 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 buy entry points

• Entering a long position with a pending order from 17.11 levels
• The best points for setting stop-loss are closing the highest levels of 16.94.
• 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 17.41

The Turkish lira lost most of its gains recorded over the past two weeks, with the dollar rising strongly against major currencies and emerging market currencies, with rising recession fears that pushed investors to the dollar as a safe haven. Investors followed reports about a funding crisis facing exporters in the country with the expansion of the funding crisis due to the recent restrictions imposed by the Ministry of Finance. The country is facing a major crisis towards inflation and a weak currency that prompted the Turkish Central Bank to intervene in direct and indirect ways to control the depreciation of the lira. Especially after the lira recorded its highest level in the country since 1998, especially with the country’s central bank adhering to a stimulus policy that prevents raising the interest rate in return for a tightening policy of central banks around the world that raised foreign exchange rates against the lira. Turkish President Recep Tayyip Erdogan faces a political crisis about a year before the presidential elections scheduled for 2023.

On the technical front, the Turkish lira fell against the US dollar, as the lira lost its gains recorded a week ago. The pair settled above the support levels that are concentrated at 17.00 levels, which represent psychological levels. At the same time, the lira is trading below the resistance levels at 17.39 and 17.50, respectively. The pair traded above the moving averages 50, 100, and 200, respectively, on the four-hour time frame, as well as on the 60-minute time frame, indicating the bullish trend over the medium term. At the same time, the pair is trading the highest strong resistance levels represented in the 50 Fibonacci levels on the descending wave that started from 06-24-2022 until the top recorded on 06-27-2022. We expect the pair to rise from the levels specified in the recommendation. Please adhere to the numbers in the recommendation with the need to maintain capital management.

We expect the price to decline from the current levels before rising again.

Today’s recommendation on the lira against the dollar

Risk 0.50%.

The buy trade of the day’s recommendation has been activated and is still trading

Best selling entry points

• Entering a short position with a pending order from levels 17.45
• 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 long position with a pending order from 16.63 levels
• The best points for setting the stop loss are closing the highest levels of 16.28.
• 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 16.99

The Turkish lira’s movements have stabilized after strong movements since the end of last week, as government decisions were issued aimed at preventing lending to Turkish companies that have a certain amount of cash, which is equivalent to 15 million liras. As these decisions contributed to raising the price of the lira against the dollar by about 5 percent over several days, before the lira began to lose its gains after reports from Western banks showing the extent of the damage that could befall the Turkish economy as a result of these decisions, especially with the damage that will occur. Meanwhile, a report published by Reuters today showed that the head of the country’s insurance group discussed the issuance of inflation-linked bonds with the Turkish Treasury. The country is facing the largest rate of inflation recorded in nearly a quarter of a century, especially with the rise in energy imports.

On the technical front, the Turkish lira stabilized against the US dollar, as the pair returned to trading in a narrow range. At the same time, the pair settled above the support levels that are concentrated at 16.48 and 16.25 levels, respectively. At the same time, the lira is trading below the resistance levels at 16.77 and 17.10, respectively. The pair also traded between the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating a short-term divergence. While the pair continues trading above the moving average 50 on the time frame of the day. At the same time, the pair is trading at strong resistance levels represented by 50 Fibonacci levels on the descending wave that started from 06-24-2022 until the top recorded on 06-27-2022. We expect the price to decline from the current levels before rising again from the levels specified in the recommendation. Please adhere to the numbers in the recommendation with the need to maintain capital management.