EUR/TRY may rise 1538 - 2286 pips

Our pivot point is at 36.6314.

Our preference

The upside prevails as long as 36.6314 is support.

Alternative scenario

The downside breakout of 36.6314 would call for 36.5058 and 36.4311.

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 36.6783 and 36.7019).

Supports and resistances

37.1086 **

37.0338 *

36.9591 **

36.8843

36.7305 last

36.6808

36.6314 **

36.5058 *

36.4311 **

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