EUR/TRY may rise 1617 - 2402 pips

Our pivot point is at 35.3617.

Our preference

The upside prevails as long as 35.3617 is support.

Alternative scenario

The downside breakout of 35.3617 would call for 35.2301 and 35.1517.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 35.4296 and 35.4426).

Supports and resistances

35.8967 **

35.8182 *

35.7398 **

35.6613

35.4996 last

35.4135

35.3617 **

35.2301 *

35.1517 **

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