EUR/TRY may rise to 38.8475 - 39.4265

Our pivot point stands at 36.7992.

Our preference

As long as 36.7992 is support look for 39.4265.

Alternative scenario

The downside breakout of 36.7992 would call for 35.8298 and 35.2528.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (37.6571) but above its 50 period moving average (36.6489).

Supports and resistances

40.5844 **

40.0055 *

39.4265 **

38.8475

37.6392 last

37.1800

36.7992 **

35.8298 *

35.2528 **

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