EUR/TRY may fall 1087 - 1578 pips

Our pivot point stands at 35.2206.

Our preference

Under pressure below 35.2206.

Alternative scenario

Above 35.2206, look for 35.3030 and 35.3521.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 35.1648 and 35.1576).

Supports and resistances

35.3521 **

35.3030 *

35.2206 **

35.1882

35.1544 last

35.0457

34.9966 **

34.9476 *

34.8985 **

Number of asterisks represents the strength of support and resistance levels.