EUR/TRY may rise 1608 - 2402 pips

Our pivot point stands at 35.8011.

Our preference

The upside prevails as long as 35.8011 is support.

Alternative scenario

Below 35.8011, expect 35.6678 and 35.5884.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 35.8464 and 35.8268). Finally, the EUR/TRY has crossed above its upper Bollinger band (35.9214).

Supports and resistances

36.3255 **

36.2461 *

36.1667 **

36.0873

35.9265 last

35.8534

35.8011 **

35.6678 *

35.5884 **

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