EUR/TRY may fall 1747 - 2455 pips

Our pivot point stands at 35.8863.

Our preference

As long as 35.8863 is resistance look for 35.5415.

Alternative scenario

Above 35.8863, look for 36.0054 and 36.0763.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 35.8042 and 35.8089).

Supports and resistances

36.0763 **

36.0054 *

35.8863 **

35.8395

35.7870 last

35.6123

35.5415 **

35.4706 *

35.3998 **

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