EUR/TRY may fall 1917 - 2660 pips

Our pivot point is at 36.6632.

Our preference

The downside prevails as long as 36.6632 is resistance.

Alternative scenario

The upside breakout of 36.6632, would call for 36.7883 and 36.8627.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 36.5922 and 36.5915).

Supports and resistances

36.8627 **

36.7883 *

36.6632 **

36.6141

36.5509 last

36.3592

36.2849 **

36.2106 *

36.1363 **

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