EUR/TRY may rise 1704 - 2489 pips

Our pivot point is at 35.1127.

Our preference

The upside prevails as long as 35.1127 is support.

Alternative scenario

The downside breakout of 35.1127 would call for 34.9811 and 34.9027.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 35.2036 and 35.2299).

Supports and resistances

35.6676 **

35.5891 *

35.5106 **

35.4321

35.2617 last

35.1645

35.1127 **

34.9811 *

34.9027 **

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