EUR/TRY may fall 1880 - 2590 pips

Our pivot point stands at 35.9737.

Our preference

Technical rebound towards 35.9737 before a new drop.

Alternative scenario

Above 35.9737, look for 36.0931 and 36.1642.

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 stands above its 20 period moving average (35.8382) but below its 50 period moving average (35.8657).

Supports and resistances

36.1642 **

36.0931 *

35.9737 **

35.9268

35.8558 last

35.6678

35.5968 **

35.5259 *

35.4550 **

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