EUR/TRY may fall 2059 - 2740 pips

Our pivot point is at 35.2697.

Our preference

Under pressure below 35.2697.

Alternative scenario

The upside breakout of 35.2697, would call for 35.3842 and 35.4524.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands above its 20 period moving average (35.1721) but below its 50 period moving average (35.1970).

Supports and resistances

35.4524 **

35.3842 *

35.2697 **

35.2247

35.1733 last

34.9674

34.8993 **

34.8313 *

34.7633 **

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