EUR/TRY may rise 1667 - 2444 pips

Our pivot point stands at 37.5761.

Our preference

As long as 37.5761 is support look for 37.9640.

Alternative scenario

Below 37.5761, expect 37.4459 and 37.3683.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (37.7422) but above its 50 period moving average (37.6737).

Supports and resistances

38.1193 **

38.0416 *

37.9640 **

37.8863

37.7196 last

37.6273

37.5761 **

37.4459 *

37.3683 **

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