EUR/TRY may fall 1383 - 1919 pips

Our pivot point stands at 37.6527.

Our preference

The downside prevails as long as 37.6527 is resistance.

Alternative scenario

The upside breakout of 37.6527, would call for 37.7429 and 37.7966.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 37.6070 and 37.6262).

Supports and resistances

37.7966 **

37.7429 *

37.6527 **

37.6172

37.5687 last

37.4304

37.3768 **

37.3231 *

37.2695 **

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