EUR/TRY may rise 1557 - 2231 pips

Our pivot point stands at 34.7099.

Our preference

The upside prevails as long as 34.7099 is support.

Alternative scenario

Below 34.7099, expect 34.5969 and 34.5297.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 34.7712 and 34.7744).

Supports and resistances

35.1830 **

35.1157 *

35.0484 **

34.9810

34.8253 last

34.7542

34.7099 **

34.5969 *

34.5297 **

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