EUR/TRY may rise 1295 - 1927 pips

Our pivot point stands at 35.8066.

Our preference

The upside prevails as long as 35.8066 is support.

Alternative scenario

The downside breakout of 35.8066 would call for 35.7006 and 35.6374.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 35.8782 and 35.8334).

Supports and resistances

36.2396 **

36.1764 *

36.1132 **

36.0500

35.9205 last

35.8483

35.8066 **

35.7006 *

35.6374 **

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