EUR/TRY may rise 1823 - 2602 pips

Our pivot point stands at 37.7067.

Our preference

The upside prevails as long as 37.7067 is support.

Alternative scenario

The downside breakout of 37.7067 would call for 37.5760 and 37.4982.

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 37.7995 and 37.8222).

Supports and resistances

38.2448 **

38.1669 *

38.0890 **

38.0111

37.8288 last

37.7580

37.7067 **

37.5760 *

37.4982 **

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