EUR/TRY may rise 1541 - 2218 pips

34.9238 is our pivot point.

Our preference

As long as 34.9238 is support look for 35.2612.

Alternative scenario

The downside breakout of 34.9238 would call for 34.8102 and 34.7425.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 35.0334 and 34.9943).

Supports and resistances

35.3966 **

35.3289 *

35.2612 **

35.1935

35.0394 last

34.9685

34.9238 **

34.8102 *

34.7425 **

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