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 entry points buy

• 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 fell with the dollar’s rise during today’s early trading. The lira lost its strong gains of 5 percent, which it recorded about two weeks ago, after government decisions about lending to companies that have a certain limit of foreign capital. The government’s efforts to maintain the value of the lira against the dollar went unheeded. But the general policy followed by the state represents a burden on the Turkish currency with the continued rise in inflation and the Turkish Central Bank’s refusal to keep pace with the monetary tightening that most central banks around the world facilitated. Yesterday, the Federal Reserve revealed a tendency to further tighten monetary policy in the US if the expansion in inflation figures continues. The aforementioned matter raised the dollar against most financial assets and, in turn, against emerging market currencies.

On the technical front, the Turkish lira fell against the US dollar, as the pair relied 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 levels of support at 17.11 and 17.00, respectively. 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. 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.

SHIB/USD has suffered a strong selloff like many of its major cryptocurrency counterparts the past week of trading and important lows are being challenged.

SHIB/USD has lost substantial value the past week of trading. An early morning low yesterday took SHIB/USD to nearly the 0.00001335 mark briefly; this value had not been sincerely traded since the first week of October 2021. Selling in SHIB/USD has been strong since the cryptocurrency hit a mark of nearly 0.00003000 on the 12^th of April.

Shiba Inu in many respects has been at the forefront of cryptocurrency speculation the past year and its time in the sun is certainly not over. However SHIB/USD has certainly seen a lot of its shine start to diminish since late October of 2021, when Shiba Inu attained a high price of nearly 0.00008812. Intriguingly the apex price of SHIB/USD occurred a few days before Bitcoin hit its record value in early November, this before the broad cryptocurrency market turned bearish.

The belief that SHIB/USD is a barometer of risk appetite in the cryptocurrency world does have merit. The inability of SHIB/USD to spur on a consistent reversal upwards as it suffers within a long term bearish trend should be considered by traders. The fact that Shiba Inu is known as speculative cryptocurrency with no utilitarian purpose cannot be overstated. SHIB/USD acts as a place for speculators to wager on behavioral sentiment within the cryptocurrency trading landscape.

As SHIB/USD continues to linger near important lows and shows little in the way of ability to lift itself higher, concerns may be growing among its speculators who may have a sour taste in their mouths. Short term traders of SHIB/USD may find that they are in a more comfortable spot compared to long term speculators of Shiba Inu. This is because day traders can afford to follow its momentum lower if they choose to pursue short positions. Long term speculators of SHIB/USD are mostly buyers of the cryptocurrency, and hoping Shiba Inu can regain some of its luster as a speculative digital asset which people will feel compelled to buy.

However as nervous sentiment shadows the broad cryptocurrency market and riskier assets are being sold, SHIB/USD has suffered a strong downturn. Traders cannot be blamed for believing SHIB/USD has additional room to traverse lower. Traders should use entry price orders while placing their bets on the direction of Shiba Inu to make sure their fills meet their expectations. If SHIB/USD falls below the 0.00001565 level it may begin to falter with a stronger move downwards.

Shiba Inu Coin Short-Term Outlook

Current Resistance: 0.00001658

Current Support: 0.00001551

High Target: 0.00001824

Low Target: 0.00001312