EUR/TRY may rise 1268 - 1799 pips

Our pivot point stands at 37.3633.

Our preference

Rebound towards 37.6349.

Alternative scenario

The downside breakout of 37.3633 would call for 37.2741 and 37.2209.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 37.4624 and 37.5201).

Supports and resistances

37.7413 **

37.6881 *

37.6349 **

37.5818

37.4550 last

37.3984

37.3633 **

37.2741 *

37.2209 **

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