EUR/TRY may rise 1651 - 2375 pips

36.9210 is our pivot point.

Our preference

The upside prevails as long as 36.9210 is support.

Alternative scenario

The downside breakout of 36.9210 would call for 36.7995 and 36.7272.

Comment

The RSI is above 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 37.0105 and 37.0230).

Supports and resistances

37.4288 **

37.3564 *

37.2840 **

37.2116

37.0465 last

36.9688

36.9210 **

36.7995 *

36.7272 **

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