EUR/TRY may fall 1663 - 2446 pips

Our pivot point stands at 36.1009.

Our preference

As long as 36.1009 is resistance look for 35.7530.

Alternative scenario

The upside breakout of 36.1009, would call for 36.2323 and 36.3106.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 35.9997 and 35.9987).

Supports and resistances

36.3106 **

36.2323 *

36.1009 **

36.0492

35.9976 last

35.8313

35.7530 **

35.6748 *

35.5966 **

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