Euro to Turkish Lira (EUR/TRY) Forecast 1 day, 1 Week, 30 days

Euro to Turkish Lira Signals and Price Predictions

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Start Trading EUR/TRY

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eToro - Best Broker to Trade EUR/TRY

EUR/TRY is an exotic pair. In the past five years, the price chart shows flat stretches with smooth and steady price growth and periodic price jumps caused by the unconventional monetary policy of the Turkish Central Bank.

1

Recommendation for EUR/TRY on the 15M timeframe is Strong Sell.

2

Recommendation for EUR/TRY on the 1H timeframe is Neutral.

3

Recommendation for EUR/TRY on the 1D timeframe is Strong Buy.

Things to know about the EUR/TRY pair:

The trend is upward. This means that the Turkish lira has been devaluing against the euro for several consecutive years.
Inflation level in the country is 40%. This is considered high, and the measures that are being taken do not yield the desired results. This could indicate that devaluation continues.
Gradual reduction of interest rates and support of exports is one of the directions of the monetary policy.

After the presidential election 2023, there is a probability that the country will revert to the traditional economy management model, which could stop or, at least, slow down the devaluation in the long term.

In our article, you will be able to learn the latest price forecasts and signals on the EUR/TRY currency exchange rate for 1 hour-1 week. EUR/TRY forecasts and signals are based on the technical analysis indicators.

On this page, you will find the latest information about current prices, updated and new forecasts for short and long-term intervals:

Asset quotes are updated every minute.
Price chart is updated every minute.
Technical indicator data is updated according to the time frame. For example, on M5, the data is updated every 5 minutes.
Medium and long-term forecasts are updated every hour.

EUR/TRY forecast for 1 day, 1 week, 1 month

EUR/TRY forecast by TU is prepared automatically on the basis of technical analysis of moving averages and indicators for each timeframe (interval) separately. Select the timeframe you need to find out EUR/TRY price prediction for today.

NOTE!

Signals may differ on different timeframes. If you want to hold the EUR/TRY for longer than 1 week/1 month, it is best to use the signals on daily and weekly timeframes. Timeframes from 5 minutes to 1 hour are best suitable for short-term transactions.

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Best Broker Recommended for Trading EUR/TRY

eToro

Suitable for those who want to earn a profit from price fluctuations.

BUY TO HOLD

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Best Broker Recommended for Holding EUR/TRY

OANDA

Suitable for those who want to invest for the long term.

Indicator Based Technical Analysis of EUR/TRY

To find a better entry point, also find out what TradingView technical analysis tool signals for the Euro to Turkish Lira currency exchange rate. "Sell" or "Strong Sell" means that most of the signals are bearish. "Buy" or "Strong Buy" means that most of the signals are bullish. For short-term signals, it is recommended to use settings from 15 minutes to 2 hours. For long-term signals, it is recommended to use settings from 4 hours to 1 week.

EUR/TRY Chart Online

What Influences EUR/TRY Long-term Price Forecast

The key factor impacting the price of the Turkish lira is currency interventions of the Central Bank, which, in theory, should compensate for the triple deficit: the budget deficit, trading deficit, and current account deficit. If the Central Bank continues to pursue a policy of preserving foreign exchange reserves, the lira will continue to depreciate.

Key factors impacting the EUR/TRY price:

Balance of payments. Erdogan’s policy aims to stimulate exports, which is facilitated by the lira’s devaluation. However, at the moment, the volumes of imports remain higher than the volumes of exports. Outflow of foreign currency from the country and budget deficit are the key reasons for lira’s devaluation.
Emission. Abandoning costly currency interventions in favor of emission to compensate for the budget deficit speeds up the inflation.
Change of the discount rate. Erdogan’s policy envisages reduction of the interest rate as a tool to fight inflation, which goes against the global practice. So far, the inflation has remained at a high level of around 40%, despite the attempts of the Central Bank to introduce significant adjustments to the economy management methods.
State support. In particular, the announced scheme aimed at compensating for the loss as a result of devaluation, strengthened the lira by 15%.
Tourist season. Cheap lira can help increase the number of foreign tourists. The inflow of foreign currency into the country can temporarily slow down the devaluation.

After the victory of Erdogan in the second round, the Turkish lira lost over 12% of its value against expectations of continuation of the current monetary policy. Introduction of manual rate regulation or return to the traditional method of economy management could change the situation.

Top 3 trending currency pairs

The algorithm developed by Traders Union automatically selects the top 3 trending currency pairs based on the user activity and indicator scores. For the calculation, the algorithm uses data on a weekly interval of technical indicators: moving averages, RSI (Relative Strength Index), CCI (Commodity Channel Index), ADX (Average Directional Index), MACD (Moving Average Convergence Divergence), Momentum, Ichimoku, etc.

USD/INR is a high-risk currency pair. Despite India being among the top five countries in the world in terms of the number of traders, this instrument is considered low-liquid and volatile. In a span of 2.5 months, the price can move more than 500 pips.

USD/INR analytical forecast

USD/CAD is one of the majors known as a commodity pair. The U.S. is Canada’s primary trading partner, and as a result, the pair’s price is strongly influenced by export and import statistics. The pair exhibits relatively high volatility. The most active trading activity is typically observed during the American session.

USD/CAD analytical forecast

USD/SGD is an exotic currency pair that offers several advantages for novice traders. While it may be more challenging to forecast compared to major currency pairs, it serves as a good “training ground” for working with higher-yielding instruments and increased risk. Market makers exert a strong influence on the price of the pair, which is why short-term trading with wider stop-loss orders is what works with the pair. The highest trading activity is typically observed during the Asian session.

USD/SGD analytical forecast

Note!

This block is not intended as an investment recommendation and is created solely for informational purposes.

All Forex Forecasts From TU Expert

Discover exchange rate forecasts for the most popular currency pairs to be up to date about the prospects of the market and not to miss promising trading opportunities.

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Price prediction methodology

The following tools and instruments were used for making the prediction:

Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.

Chart analysis. Analysis comprises a review of key levels of support, resistance, trend lines, as well as patterns formed on different time frames.

Statistical tools help evaluate a probability of a fundamental factor that could impact the price, its nature and intensity of impact.

Methods of mathematical and statistical analysis; modeling, adaptive forecasting methods.

Expert opinions and consensus forecast.

NOTE!

This forecast is based on current information and data of previous periods. Emergence of strong fundamental factors capable of radically changing the overall market trend and subsequent price trend is possible. The forecasts are updated regularly based on the latest data.

This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.

FAQs

What is the Turkish lira forecast?

Unconventional policy of the Central Bank is one of the reasons for devaluation of the Turkish lira. The key areas of the monetary policy include support of exporters and reduction of the interest rate. This kind of policy causes the lira to devaluation further and the EUR/TRY price to go up.

When should I buy Turkish lira?

Analysts predict that it is highly likely that the upward trend of EUR/TRY will continue. It will make sense to buy lira once the measures to curb inflation are put in place: the Central Bank starts to raise the interest rate, and the gap between exports and imports becomes smaller.

What is the prediction for Euro Turkish lira?

The key factors contributing to the devaluation of the Turkish lira are the abandonment of costly foreign currency interventions, budget deficits, and the issuance of currency to cover those deficits, as well as the reduction of the interest rate. Analysts suggest that the slow devaluation of the lira is likely to continue in the next several years. However, there is a possibility of a trend reversal, if the country’s leadership decides to radically change its monetary policy model.

What strategies are suitable for the EUR/TRY currency pair?

The EUR/TRY currency pair is an instrument with a high level of risk. Despite the fact that in the short term, all factors point to continued devaluation of the lira, in the long term, a trend reversal is not ruled out.