EUR/TRY may rise 1603 - 2394 pips

Our pivot point stands at 35.5565.

Our preference

As long as 35.5565 is support look for 36.0530.

Alternative scenario

The downside breakout of 35.5565 would call for 35.4241 and 35.3453.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 35.7699 and 35.6880).

Supports and resistances

36.2113 **

36.1322 *

36.0530 **

35.9739

35.8136 last

35.6085

35.5565 **

35.4241 *

35.3453 **

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