EUR/TRY may rise 1304 - 1838 pips

Our pivot point is at 37.4104.

Our preference

The upside prevails as long as 37.4104 is support.

Alternative scenario

The downside breakout of 37.4104 would call for 37.3210 and 37.2679.

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 37.5383 and 37.5551).

Supports and resistances

37.8897 **

37.8364 *

37.7830 **

37.7296

37.5992 last

37.4455

37.4104 **

37.3210 *

37.2679 **

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