EUR/TRY may fall 1480 - 1967 pips

Our pivot point is at 34.9918.

Our preference

The downside prevails as long as 34.9918 is resistance.

Alternative scenario

Above 34.9918, look for 35.0737 and 35.1225.

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 34.9715 and 35.0159).

Supports and resistances

35.1225 **

35.0737 *

34.9918 **

34.9597

34.9118 last

34.7638

34.7151 **

34.6665 *

34.6178 **

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