| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇒ | ⇒ |
The EUR/TRY currency pair has been trading upwards since the beginning of July. As apparent on the chart, the pair has already exceeded the 8.2500 level.
Given that the exchange rate is supported by the 55-, 100– and 200-hour moving averages in the 7.8730/8.1600 area, it is likely that bulls could continue to prevail in the market in the medium run.
Meanwhile, note that the rate could face the resistance level formed by the monthly R1 at the 8.4645 mark. If the given resistance holds, it is likely that a reversal south could occur.