USDTRY 20.02.20220 Market Analysis Forex

USDTRY 20.02.20220 Market Analysis Forex On the third day of the week the CBRT lowered its policy interest rate by 50 basis points at its February meeting to 10.75 percent. President Recep Tayyip Erdogan, who spoke at the AK Party FMC meeting, followed the statements in Idlib while the minutes published by the FOMC meeting on the Producer Price Index in the United States were followed. On the fourth trading day of the week, domestic consumer confidence fell 2.7 percent to 57.3 in February. During the day, the Philly Fed Manufacturing Index in the United States rose to 36.7 in February against expectations of 12, while weekly unemployment benefit applications rose to 210 thousand with an increase of 4 thousand in the week ended February 15. While monitoring the effects of increased geopolitical risks on Turkish assets in Idlib, it was observed that the currency continued its upward movement at the end of the day. Technically, the dollar remains decisive at 6.10. 6.12, 6.14 and 6.16 levels are important resistance levels that should be followed if the trend in the exchange rate continues to move upward with possible purchases. With possible sales, support levels of 6.08, 6.10 and 5.12 can be followed in the downward movement of the trend in the exchange rate. [mstock id= " 1597"] EURTRY On the third trading day of the week, the decision on policy interest at the CBRT meeting in February and the statements of President Recep Tayyip Erdogan, who spoke at the AK Party FMC meeting, focused on Idlib were followed. On the fourth trading day of the week, domestic consumer confidence fell 2.7 percent to 57.3 in February. Consumer confidence in Germany fell 0.1 points to 9.8, driven by coronavirus. Earlier in the day, European Central Bank policymakers were following a January interest rate meeting that warned there was a signal of too much economic optimism, while the effects of increased geopolitical risks on Turkish assets in Idlib continued to be monitored. With the developments that followed at the end of the day, it was observed that the Cross continued its upward movement. Technically, the cross remains decisive at 6.58. 6.60, 6.62 and 6.65 levels are important resistance levels to follow in case the upward trend continues as long as 6.56 remains above the support level. With possible sales, support levels of 6.54, 6.52 and 6.50 can be followed in the downward trend of the exchange rate. [mstock id= " 1528"] EURUSD The third trading day of the week was followed by data on the U.S. Producer Price Index and housing starts. On the fourth trading day of the week, consumer confidence in Germany declined 0.1 point to 9.8 due to coronavirus. During the day, the Philly Fed Manufacturing Index in the United States rose to 36.7 in February against expectations of 12, while weekly unemployment benefit applications rose to 210 thousand with an increase of 4 thousand in the week ended February 15. At the end of the day, the pair continued their downward movement. Technically, the pair remains decisive at 1,0790. 1.0770, 1,0750 and 1,0720 levels are important support levels to follow if 1.0810 continues to remain below the resistance level. In case of upward movement of the pair, resistance levels of 1.0810, 1.0830 and 1.0850 can be followed. [mstock id= " 1171"] XAUUSD On the third trading day of the week, concerns over the virus continued, tracking it near its highest level since 2013. The fourth trading day of the week followed a limited setback in US ten-year bond yields and speculation that the Fed will loosen monetary policy before the end of the year, following a seven-year high. Technically, it was observed that the Ounce of gold remains decisive at $ 1620. With increasing demand, 1628, 1635 and 1644 levels are important resistance levels to follow if the ounce gold continues its upward movement. Support levels of 1612, 1608 and 1564 can be followed in the short term in the event of a possible downward move. [mstock id= " 1605"] GBPUSD In the third trading day of the week, the UK Consumer Price Index was followed, while in the US the Producer Price Index and Housing Starts data were followed. On the fourth trading day of the week, retail sales in the UK rose 0.9 percent in January. During the day, the Philly Fed Manufacturing Index in the United States rose to 36.7 in February against expectations of 12, while weekly unemployment benefit applications rose to 210 thousand with an increase of 4 thousand in the week ended February 15. At the end of the day, no-deal Brexit concerns continued their limited pressure on the pair, while GBPUSD continued its downward movement for the fifth consecutive day. Technically, GBP / USD remained stable at 1.2880. 1.2840, 1.2800 and 1.2760 are important support levels that should be followed in case of a continued downward trend in parity with sales that may come as long as 1.2920 remains below the resistance level. In the upward movement of the trend in the parity with possible purchases, 1.2920, 1.2960 and 1.3000 resistance levels should be followed. [mstock id= " 1603"] USDJPY On the third trading day of the week, the Producer Price Index and housing start data were followed in the USA. On the fourth trading day of the week, relatively weak economic data flows in Japan continued, while the Philly Fed Manufacturing Index in the US reached 36.7 in February, with 12 thousand gains and weekly unemployment benefits fell by 4 thousand in the week ended February 15. As a result of the strong stance of the Dollar with the data announced during the day, it was followed that the USD / JPY parity continued its upward movement on the second day. Technically, the USD / JPY parity remains stable at 112.00. 112.30, 112.60 and 112.90 levels are important resistance levels to follow in case the upward trend continues as long as 111.70 remains above the support level. If possible sales and the trend in parity is downward, support levels of 111.70, 111.40 and 111.10 can be followed. [mstock id= " 1527"] CRUDE OIL Oil's upward movements were followed by the US decision to impose sanctions against Russia's biggest oil producer on the third trading day of the week and the conflict in Libya raised concerns about supply. On the fourth trading day of the week, there was growing optimism that China could soften the damage caused by the coronavirus to energy demand and Saudi Arabia's concerns about the spreading outbreak. U.S. crude stocks rose 414,000 barrels in the week ended February 14 against expectations of 2.494 million, followed by oil continuing its upward movement for the second day at the end of the day. Technically, crude oil remains decisive at $ 53.80. As long as 53.40 is above the support level, possible purchases and 54.20, 54.60 and 55,00 are important resistance levels that should be followed if the upward trend in crude oil continues. Possible sales and the downward movement of the trend should be followed by support levels of 53.40, 53,00 and 52,60. [mstock id = "1600"] 1tr XAGUSD On the third trading day of the week, concerns about the virus continued, while similar to Gold, risk appetite had been reduced and safe-haven demand supported. On the third trading day of the week, concerns about the virus continued, with limited profit sales observed in Silver ending the day. Technically, Silver remains decisive at $ 18.30. 18.10, 17,90 and 17,70 are important support levels that should be followed in case of a continued downward trend with sales that may come as long as they remain below the resistance level of 18,50. In the upward movement of the trend in silver with possible future 18,50, 18,65 and 18,80 resistance levels should be followed.