Tesla: two reasons why it dropped
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
Turkish lira gains against dollar
Information is not investment advice
TRY bounced back to 6.9 as the government appealed for funding. Where is it headed now?
The Turkish government took defensive measures to avoid the currency crisis. The Turkish central bank asked foreign allies for funding. They have already held talks with the USA, Japan, the United Kingdom, Qatar, and China. Negotiations continue, but no country has agreed to help. That seems reasonable, it’s a tough time for every nation and most of them don’t have enough capacity to support their own economies. Anyway, after this promising report the Turkish lira surged up. It has been the largest spike for a long time.
Let’s have a look at the chart now. We can easily notice the strong upward trend. When the coronavirus pandemic began, USD/TRY skyrocketed to unseen highs. However, the price has been falling for over a week already. If it crosses the support level at 6.74, it will open doors for further drop to 6.6. Resistance lines are at 7.055 and 7.18.
Similar
NVIDIA: hottest stock of the week
NVIDIA is set to release its earnings results after the closing bell on February 24. What to expect?
RBNZ rate statement: what lies ahead for the NZD?
The Reserve bank of New Zealand holds a meeting on Wednesday at 3:00 MT time.
Popular
Dollar keeps steadier so far before Powell's speech
Ichimoku Kinko Hyo AUD/JPY: The pair is trading above the cloud…
WTI oil: up at $62 while OPEC+ decides
While the oil cartel member country leaders meet to decide on the supply increase quantity, WTI oil price moved up a bit. What are we in for?
AUD benefits from the biggest trade surplus ever
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
Choose your payment system
