An exciting prediction has come for the dollar price, which has been on the rise for quite some time. Experts, predicting that the dollar rate will fall to 13 TL, pointed to next week.
Dollar Nowadays, as exchange rate fluctuations continue to trace an upward curve, the evolution of the exchange rate, which broke its own record, is curious. As discussions continued on whether or not the dollar’s bearish band could be caught, a lightning prediction came from the pundits. According to the latest analysis of the dollar in the Dünya newspaper; the exchange rate will decrease and the dollar will see 13 TL. Experts have said that the decrease in question will occur next week.
Experts said: “In particular, falling below the 15.07 TL level can lead to a pullback move up to 13.27 TL in the pair.”
“15 LIRA RESISTANCE IN DOLLARS EXCHANGE”
The experts, who assessed the course of the dollar for the Dünya newspaper, said that there was a resistance of 15 liras in the dollar estimate and said: “Next week, the support point of this trend coincides with the level of 15.07 TL. Additionally, it should be noted that the 15.73 TL level, which previously functioned as a resistance level, now functions as a support point. In other words, to talk about relief on the downside of the parity, you must first go below these levels.
In the analysis, which includes what will happen if the level of 15 lira breaks down in the exchange rate, “In particular, falling below the level of 15.07 TL may lead to a pullback movement up to 13 .27 TL in parity This is actually the support point of the main trend that started on September 06, 2021.
”DRY DOLLAR WILL BE 13 TL”
Furthermore, it was stated that “staying above the 15.73 TL level in the adverse scenario may lead to an increase in risk up to 17.07 TL levels in the first stage”.
In the analysis made by Uğur Korcan, drawing attention to the government’s dependence on tourism revenue, the following statements were used: Increase in overseas commodity prices, weak Reserve US Federal (fed), In progress Russia- Ukraine In addition to the war, the weakness of the belief that inflation will decline in an environment of negative real interest rates keeps the demand for foreign currency alive. So how will blood pressure drop in exchange rates? The prevailing view is that expectations management should be conducted, which includes concrete measures that will ensure that the number of those who believe that inflation will fall into the “majority” is significant. This is the first item on the to-do list. In addition, the rise in world commodity prices, over which we have no power to intervene, must also stop. It is difficult to find a solution for the two most important positions in the short term. Therefore, the pressure on exchange rates is expected to continue for some time. So much so that while rating agency Moody’s raised year-end inflation expectations for 2022, which were estimated at 35%, to 52.1% in March, that figure rose to 57.92% in the Central Bank Expectations Survey. At this point, the only source of hope lies in tourism revenues, which are expected to increase over the coming summer months.
Dollar climbs on Fed tensions
The dollar is preparing to leave behind a choppy week. The exchange rate, which settled above 16 TL, tested above 16.45 in yesterday’s trades.
The dollar peak has changed! It exceeded 16.35 TL and experienced the peak of the last 6 months.
The dollar rate, which started the week with a rise, experienced the peak of the last 6 months when it saw 16 liras. Today, however, Dollar/TL updated its peak by breaking above 16.35 TL. In particular, the Fed’s interest rate hike and rising inflation figures around the world are causing the dollar to appreciate.