EUR/TRY may rise 1096 - 1632 pips

37.4011 is our pivot point.

Our preference

Rebound towards 37.6368.

Alternative scenario

Below 37.4011, expect 37.3112 and 37.2576.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 37.4757 and 37.4904).

Supports and resistances

37.7439 **

37.6903 *

37.6368 **

37.5832

37.4736 last

37.4365

37.4011 **

37.3112 *

37.2576 **

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