EUR/TRY may fall 1343 - 1918 pips

Our pivot point is at 35.0503.

Our preference

As long as 35.0503 is resistance look for 34.7454.

Alternative scenario

The upside breakout of 35.0503, would call for 35.1471 and 35.2047.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 34.9401 and 34.9561).

Supports and resistances

35.2047 **

35.1471 *

35.0503 **

35.0123

34.9372 last

34.8029

34.7454 **

34.6879 *

34.6304 **

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