EUR/TRY may fall 1703 - 2377 pips

Our pivot point stands at 35.0404.

Our preference

Technical rebound towards 35.0404 before a new drop.

Alternative scenario

The upside breakout of 35.0404, would call for 35.1539 and 35.2214.

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 trading above its 20 period moving average (34.9024) but under its 50 period moving average (34.9553).

Supports and resistances

35.2214 **

35.1539 *

35.0404 **

34.9959

34.9446 last

34.7743

34.7069 **

34.6394 *

34.5720 **

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