EUR/TRY may rise 1836 - 2584 pips

Our pivot point is at 36.5481.

Our preference

The upside prevails as long as 36.5481 is support.

Alternative scenario

The downside breakout of 36.5481 would call for 36.4228 and 36.3483.

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 36.6522 and 36.6556).

Supports and resistances

37.0888 **

37.0141 *

36.9394 **

36.8646

36.6810 last

36.5974

36.5481 **

36.4228 *

36.3483 **

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