![S&P in the Сrosshairs](/storage/article/32641/preview/1fOrsTHt789OnLgg_2560x600_q70.jpg)
Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
2020-05-15 • Updated
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.
Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
What will happen? The Bank of England will present a monetary policy statement on Thursday, August 4 at 14:00 MT (GMT+3)…
Time to do fundamental analysis of our favorite Eurodollar. What's the outlook for this year?
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!