EUR/TRY may rise 1389 - 2068 pips

Our pivot point stands at 34.9294.

Our preference

As long as 34.9294 is support look for 35.2459.

Alternative scenario

The downside breakout of 34.9294 would call for 34.8154 and 34.7475.

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 35.0310 and 34.9959).

Supports and resistances

35.3817 **

35.3138 *

35.2459 **

35.1780

35.0391 last

34.9742

34.9294 **

34.8154 *

34.7475 **

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