EUR/TRY may fall 2175 - 2805 pips

Our pivot point stands at 35.9942.

Our preference

The downside prevails as long as 35.9942 is resistance.

Alternative scenario

Above 35.9942, look for 36.1004 and 36.1635.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 35.9800 and 35.9351). Finally, the EUR/TRY has penetrated its lower Bollinger band (35.8883).

Supports and resistances

36.1635 **

36.1004 *

35.9942 **

35.9525

35.8526 last

35.6351

35.5721 **

35.5092 *

35.4463 **

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