EUR/TRY may fall 2336 - 2871 pips

Our pivot point is at 37.6288.

Our preference

Under pressure below 37.6288.

Alternative scenario

Above 37.6288, look for 37.7190 and 37.7727.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 37.5851 and 37.5497).

Supports and resistances

37.7727 **

37.7190 *

37.6288 **

37.5934

37.5456 last

37.3120

37.2585 **

37.2050 *

37.1515 **

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