EUR/TRY may fall 1287 - 1761 pips

Our pivot point stands at 37.2535.

Our preference

The downside prevails as long as 37.2535 is resistance.

Alternative scenario

The upside breakout of 37.2535, would call for 37.3331 and 37.3805.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 37.2360 and 37.2227).

Supports and resistances

37.3805 **

37.3331 *

37.2535 **

37.2222

37.1870 last

37.0583

37.0109 **

36.9635 *

36.9162 **

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