EUR/TRY may rise 1813 - 2649 pips

Our pivot point stands at 37.5239.

Our preference

The upside prevails as long as 37.5239 is support.

Alternative scenario

The downside breakout of 37.5239 would call for 37.3837 and 37.3002.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 37.6401 and 37.5904).

Supports and resistances

38.1024 **

38.0188 *

37.9353 **

37.8517

37.6704 last

37.5789

37.5239 **

37.3837 *

37.3002 **

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