According to the report of the currency and gold service of Economy Online, the foreign exchange market was followed in a cautious atmosphere on Monday, June 18, 1405, and the price of the dollar remained at relatively high levels despite limited fluctuations. At the same time as the tensions between Iran and Israel continue and scattered conflicts continue in some regional fronts, the level of geopolitical uncertainty has increased once again and has attracted the attention of currency market traders.
In such a situation, the market is influenced by expectations and political scenarios rather than reacting to definitive economic data. The publication of speculations about Iran’s blocked assets and the possibility of their use in regional equations, although it is still at the level of uncertain news, has had a significant psychological effect on the expectations of market participants and strengthened the cautious atmosphere.
The latest currency price
- Dollar: 177,400 Tomans (daily range: 177,280 to 178,820)
- Euro: 204,810 Tomans (daily range: 204,440 to 206,020)
- Emirates dirham: 48,314 Tomans (daily range: 48,285 to 48,705)
- British pound: 236,910 Tomans (daily range: 236,550 to 238,520)
- Turkish lira: 3,850 tomans (daily range: 3,850 to 3,880)
- Canadian dollar: 127,200 tomans (daily range: 127,110 to 128,240)
Dollar price forecast for Tuesday, June 19, 1405
In the current situation, the currency market has become more dependent on political variables and the level of traders’ expectations than ever before. The increase in regional tensions and the uncertain political atmosphere have caused some market participants to take a cautious approach and trades are followed more sensitively than the news. For this reason, even uncertain news can affect the direction of price movement in the short term.
From a technical point of view, the range of 176 thousand Tomans is currently known as one of the most important support levels of the market. The stabilization of the dollar above this level can be a sign of maintaining the strength of demand in the market and strengthen the possibility of continuing the upward movement. In such a situation, some analysts estimate the market’s short-term target to be in the range of 180 to 182 thousand tomans.
If the flow of demand in the foreign exchange market is strengthened and at the same time there is no deterrent factor from the side of politics or parallel markets, even the movement of the price towards the range of 185 to 190 thousand Tomans is not out of the question in the medium term. Of course, the realization of this scenario largely depends on maintaining the current support level and the continuation of inflationary expectations in the market.
On the other hand, if the market cannot stabilize above the level of 176,000 Tomans and the selling pressure increases, there is a possibility that the dollar will return to the fluctuating phase and prices will be corrected. In such a situation, some traders consider the lower limits of the channel of 170 thousand tomans as the next support levels.
In general, dollar trading is expected to follow on Tuesday with limited fluctuations but sensitive to political news. It seems that until a clear signal from the side of political developments or economic policies is published, the currency market will fluctuate more in the current limits and traders will be more cautious in buying and selling positions.
