TRY/USD Forex Signal: Expectations of a Rate Cut After Today’s Central Bank Meeting

On the technical front, the Turkish lira stabilized against the dollar, registering little change in a tight range that lasted nearly two months. 50 minutes, which shows the difference the couple saves on average. Advertisement IS MONEY READY TO WORK FOR YOU? TRADE NOW Today’s recommendation TRY/USD Risk 0.50%. Best buy point Enter long position with pending order of 18.50 Place stop-loss point to close below 18.25 support level. Move the stop loss to the initial area and take profit when the price moves 50 pips. Close half of the contracts with a profit of 70 points and leave the remaining contracts at the strong resistance level of 18.99. Top selling entry points Enter a short position with a pending order of 18.99 The best points to set a stop loss are closing highs 19.15. Move the stop loss to the initial area and take profit when the price moves 50 pips. Close half of the contracts with a profit of 70 points and leave the remaining contracts at the support level of 18.55. The Turkish lira was steady against the US dollar early this morning as the Turkish lira was flat against the US dollar. It fell against major currencies since yesterday after the release of the Federal Reserve meeting minutes. Instead of 75 points in the previous meeting, the interest rate is expected to increase by only 50 basis points. On the other hand, investors expect the Turkish central bank to make an interest rate decision at today’s meeting. Expectations point to the possibility of lowering the country’s interest rate to 9.5 percent in response to the wishes of Turkish President Recep Tayyip Erdogan, who effectively controls the country’s monetary policy. Turkey’s president earlier urged a rate cut to single digits after the Turkish central bank cut several interest rates in recent months. No major changes are expected in the exchange rate of the lira against the dollar. It considers market intervention by Turkey’s central bank to support the local currency, which has kept its price unchanged for almost two months.

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