EUR/TRY may fall 1875 - 2347 pips

Our pivot point stands at 37.2612.

Our preference

The downside prevails as long as 37.2612 is resistance.

Alternative scenario

The upside breakout of 37.2612, would call for 37.3409 and 37.3883.

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 37.2077 and 37.2118).

Supports and resistances

37.3883 **

37.3409 *

37.2612 **

37.2299

37.1775 last

36.9900

36.9428 **

36.8955 *

36.8482 **

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