EUR/TRY may fall to 36.3196 - 36.6494

Our pivot point is at 37.8562.

Our preference

The downside prevails as long as 37.8562 is resistance.

Alternative scenario

The upside breakout of 37.8562, would call for 38.4120 and 38.7428.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 37.8186 and 37.6257).

Supports and resistances

38.7428 **

38.4120 *

37.8562 **

37.6378

37.4080 last

36.6494

36.3196 **

35.9897 *

35.6599 **

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