EUR/TRY may fall to 36.3863 - 36.7576

Our pivot point stands at 38.2123.

Our preference

Target 36.3863.

Alternative scenario

Above 38.2123, look for 38.8397 and 39.2132.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (37.8861) but above its 50 period moving average (37.5070).

Supports and resistances

39.2132 **

38.8397 *

38.2123 **

37.9659

37.7122 last

36.7576

36.3863 **

36.0150 *

35.6438 **

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