EUR/TRY may fall 1227 - 1725 pips

37.1810 is our pivot point.

Our preference

As long as 37.1810 is resistance look for 36.9030.

Alternative scenario

The upside breakout of 37.1810, would call for 37.2647 and 37.3146.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands above its 20 period moving average (37.0724) but below its 50 period moving average (37.0924).

Supports and resistances

37.3146 **

37.2647 *

37.1810 **

37.1481

37.0755 last

36.9528

36.9030 **

36.8533 *

36.8035 **

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