EUR/TRY may fall 1286 - 1844 pips

Our pivot point stands at 35.0582.

Our preference

Technical rebound towards 35.0582 before a new drop.

Alternative scenario

The upside breakout of 35.0582, would call for 35.1521 and 35.2080.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (34.9458) but under its 50 period moving average (34.9626).

Supports and resistances

35.2080 **

35.1521 *

35.0582 **

35.0213

34.9535 last

34.8249

34.7691 **

34.7133 *

34.6575 **

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