EUR/TRY may rise to 37.7473 - 38.2449

Our pivot point stands at 35.8871.

Our preference

The upside prevails as long as 35.8871 is support.

Alternative scenario

The downside breakout of 35.8871 would call for 35.0561 and 34.5614.

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 36.1495 and 35.5998).

Supports and resistances

39.2399 **

38.7424 *

38.2449 **

37.7473

36.6793 last

36.2135

35.8871 **

35.0561 *

34.5614 **

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