EUR/TRY may fall 1556 - 2052 pips

Our pivot point is at 37.0545.

Our preference

The downside prevails as long as 37.0545 is resistance.

Alternative scenario

Above 37.0545, look for 37.1379 and 37.1876.

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 is trading under both its 20 and 50 period moving average (respectively at 36.9990 and 37.0253).

Supports and resistances

37.1876 **

37.1379 *

37.0545 **

37.0217

36.9887 last

36.8331

36.7835 **

36.7339 *

36.6843 **

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