| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The Euro has been appreciating against the Turkish Lira since the end of March, when the exchange rate surpassed strong resistance level—the Fibonacci 61.80% retracement at 6.3791.
As apparent on the chart, the rate has already surpassed the monthly R1 at 6.5897. From a technical perspective, the currency pair should trade up, as it is supported by the 55-, 100– and 200-hour SMAs. Important resistance to look out for is the Fibonacci 50.00% retracement at 6.7084.
If the given resistance does not hold, it is likely, that the pair could reach the Fibonacci 38.20% retracement at 7.0377. Otherwise, a reversal south occurs within the following sessions.