EUR/USD Forecast Today 26/5: Turkish Lira Stabilize? (Chart)

(MENAFN- Daily Forex) The Turkish Lira (TRY) against the US Dollar (USD/TRY) has experienced a sharp decline in recent trading, closing at 0.0256 after starting the week at 0.0371. This reflects a significant loss in the Lira\u0026#39;s value, with a change of -30.97%.technically, the daily trading ranged between a low of 0.0255 and a high of 0391 substantial movements indicate a state of extreme volatility and instability in the Turkish foreign exchange market, necessitating a precise technical reading of what might unfold this week technical Analysis and Expectations Today:The pair has undergone a powerful downtrend recently, marked by sharp red candlesticks and clear breaches of previous support levels, confirming a decidedly negative short-term trend. Furthermore, the rapid drop from 0.0391 to 0.0256 indicates a complete loss of positive momentum and increasing selling pressure on the Turkish Lira. 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, });The price is currently trading below all major moving averages, reinforcing the bearish outlook for the pair. Momentum indicators (like the RSI) also show entry into oversold regions, opening the door for a potential temporary technical rebound towards nearby resistance levels. However, continued trading below 0.0300 maintains the negative outlook, with the possibility of testing new support levels unless monetary authorities intervene, or signs of imminent economic stability emerge Entry Points:Bullish Entry Points:Entry: From 0.0255 \u0026ndash; 0.0260 (if reversal signals appear)First Target: 0.0290Second Target: 0.0320Stop Loss: 0.0245Bearish Entry Points:Entry: From 0.0300 \u0026ndash; 0.0310 (if the price fails to break and hold above them)First Target: 0.0270Second Target: 0.0250Stop Loss: 0.0325USD/TRY Trading Signals:Given the sharp declines and the Lira\u0026#39;s loss of value, it\u0026#39;s advised not to risk large positions without clear confirmations, especially in the absence of internal economic stability. Speculators can capitalize on the current volatility with a short-term trading approach between support and resistance levels, while strictly adhering to capital management and stop-loss discipline Price Weekly Expectations:Negative pressure on the Turkish Lira is likely to persist this week, unless there\u0026#39;s intervention from the Turkish Central Bank or the release of positive economic data supporting the currency. Moreover, the expected trading range will be between the 0.0245 support level and the nearby 0.0300 resistance. A break of current support could open the way to lower levels; while breaching resistance and holding above it might change the short-term direction and prepare the pair for a rebound towards 0340 for USD/TRY Traders:Given the high volatility of the USD/TRY pair, traders should exercise caution and avoid emotional decisions. It\u0026#39;s crucial to follow economic and political developments in Turkey, especially those related to interest rate and inflation policies. Decisively, relying on a short-term trading strategy supported by strong technical signals and strict risk management is highly recommended.

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