EUR/TRY may rise 1587 - 2370 pips

37.9449 is our pivot point.

Our preference

As long as 37.9449 is support look for 38.3040.

Alternative scenario

Below 37.9449, expect 37.8134 and 37.7351.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (38.0711) but above its 50 period moving average (37.9887).

Supports and resistances

38.4607 **

38.3824 *

38.3040 **

38.2257

38.0670 last

37.9966

37.9449 **

37.8134 *

37.7351 **

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