(MENAFN- Daily Forex) The Turkish Lira (TRY) against the US Dollar (USD) is currently trading at 0.0258, experiencing a sharp decline from its session opening level of 0.0371. This represents a significant negative change of approximately -30.63%, reflecting intense pressure on the Turkish Lira. Throughout the day, the pair has seen a wide price range between a low of 0.0255 and a high of 0.0391, indicating extreme volatility and high market fluctuations technical Analysis and Expectations Today:The pair has been undergoing a sharp decline since the start of the session, with key support levels, notably 0.0300 and 0.0270, being broken. This indicates strong selling momentum. A break below 0.0260 makes 0.0255 a critical support area, and if it\u0026#39;s breached, the price could head towards even lower levels. Technically, Short-term moving averages (such as 20 and 50 days) show a steep downward trend. Also, the Relative Strength Index (RSI) indicates entry into oversold territory, suggesting a potential for a corrective rebound in the near term. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: SidebarBrokerListAmount, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });Potential Entry Points:Bullish Entry Points:0.0255 if clear reversal signals and an upward rebound emerge.0.0248 as a potential technical support level if the decline continues Entry Points:0.0270 if the price rises and resistance appears.0.0285 as a selling opportunity if the price fails to break through this resistance Price Weekly Expectations:Negative pressure on the Turkish Lira is expected to continue this week, with a possibility of testing the critical support at 0.0250. If this support holds, we might see a corrective rebound towards 0.0270 or 0.0280. However, if it breaks, the price could head to lower levels around 0.0240. Also, movements will be tied to any new developments from the Turkish Central Bank or inflation and interest rate indicators/TRY Trading Signals:Selling is advised if there\u0026#39;s a weak upward move towards technical resistances without a strong breakout\u0026#39;s preferable to monitor for rebound signals before buying from support levels, due to the strong selling momentum stop-loss orders is essential given the sharp volatility for USD/TRY Traders:This period is highly sensitive for trading the Turkish Lira, and long-term trading is not recommended until trends become clearer. Day traders can capitalize on the sharp fluctuations, but with strict risk management.

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