EUR/TRY may rise 1375 - 2007 pips

Our pivot point stands at 35.7792.

Our preference

The upside prevails as long as 35.7792 is support.

Alternative scenario

The downside breakout of 35.7792 would call for 35.6732 and 35.6101.

Comment

The RSI is above its neutrality area at 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 35.8307 and 35.8069).

Supports and resistances

36.2303 **

36.1671 *

36.1039 **

36.0407

35.9032 last

35.8209

35.7792 **

35.6732 *

35.6101 **

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