The forecasts for the Turkish Lira include the continuation of the pair’s rise targeting levels of 32.50 lira, as each dip represents an opportunity to reinforce buying contracts.  Signals for the Lira Against the Dollar Today– Risk 0.50%.Best Buying Points:

Best Selling Points:

Turkish lira Analysis: USD/TRY stabilized during early trading on Monday morning with an upward bias. The pair continued to move in a limited range below last month’s high of 32.50 lira per dollar. Recently, the Turkish lira received some support after the Turkish central bank raised interest rates at its meeting last month.Meanwhile, the investors were focused on the results of the local elections held in Turkey yesterday. In the early hours of Monday morning, Turkish President Recep Tayyip Erdogan admitted that his ruling Justice and Development Party (AKP) had lost the Turkish municipal elections, with the main opposition Republican People’s Party (CHP) making gains. Erdogan described the election result as a turning point, not a defeat, stressing that democracy and the national will are the real winners.After most of the votes were counted, the CHP was ahead with 37.15% of the vote, narrowly ahead of the AKP, which received 36.12%. The loss represents a major shift in Turkish politics, with the CHP winning victories in key cities, including Istanbul and Ankara, reflecting a change in voter sentiment. The election results highlight a difficult period for Erdogan and his AKP, which has ruled Turkey for more than two decades.At the same time, Istanbul Mayor Ekrem Imamoglu declared victory in the local elections held on Sunday, marking a significant moment in Turkish politics when he defeated the candidate backed by President Recep Tayyip Erdogan. Moreover, the CHP retained Ankara and won additional seats in nine other major cities across the country. USD/TRY Technical Analysis and Expectations Today:USD/TRY rose slightly in early trading on Monday morning, as the pair continues to trade within the ascending price channel on the daily time frame, as shown in the chart. Currently, the pair is trading at 32.44 lira per dollar, which is above the 50 and 200 moving averages, which are positively intersecting upwards, on most time frames from four hours to the weekly time frame, in a clear indication of the dominance of the general upward trend on the pair. If the pair rises, it targets 32.50 and 32.65 levels, respectively. Moreover, if the price falls, it targets 32.25 and 32.15 levels, respectively.Eventually, the forecasts for the Turkish Lira include the continuation of the pair’s rise targeting levels of 32.50 lira, as each dip represents an opportunity to reinforce buying contracts. Finally, we recommend adhering to the mentioned recommendations and maintaining capital management rules.More By This Author:United States GDP Expanded in Fourth Quarter by 3.4%USD/TRY Forecast: Struggle Against USD ContinuesUS Inflation Rises Unexpectedly To 3.2%