Midday Market Review

The market is still under the influence of expectations of interest rate hike in the United States. Today the US currency strengthened against its major rivals prior to the publication of the Fed’s meeting minutes. Investors expect confirmation of “hawkish” attitude and hints on the timing of rate hikes.

USD/TRY: Fibonacci analysis

Upward correction possibility.

On the 4-hour chart, the price remains in an upward trend. At present, it is trading near the level of 3.6075 and there is a potential for further fall (Stochastic is directed down). Otherwise, an upward correction is possible towards the levels of 3.6790 (23.6% correction, in…

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