EUR/TRY may rise to 37.8548 - 38.3739

Our pivot point is at 35.7074.

Our preference

The upside prevails as long as 35.7074 is support.

Alternative scenario

The downside breakout of 35.7074 would call for 34.8455 and 34.3324.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 35.9505 and 35.4382). Finally, the EUR/TRY has crossed above its upper Bollinger band (36.5029).

Supports and resistances

39.4122 **

38.8930 *

38.3739 **

37.8548

36.5575 last

36.0460

35.7074 **

34.8455 *

34.3324 **

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