EUR/TRY may rise 1428 - 2106 pips

Our pivot point stands at 34.8699.

Our preference

Our next up target stands at 35.2006.

Alternative scenario

The downside breakout of 34.8699 would call for 34.7561 and 34.6883.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 34.9841 and 34.9718).

Supports and resistances

35.3363 **

35.2685 *

35.2006 **

35.1328

34.9900 last

34.9146

34.8699 **

34.7561 *

34.6883 **

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