EUR/TRY may rise 1420 - 2099 pips

Our pivot point is at 35.0247.

Our preference

As long as 35.0247 is support look for 35.3302.

Alternative scenario

The downside breakout of 35.0247 would call for 34.9107 and 34.8429.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 35.0838 and 35.0051).

Supports and resistances

35.4659 **

35.3980 *

35.3302 **

35.2623

35.1203 last

35.0695

35.0247 **

34.9107 *

34.8429 **

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