| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
The Euro has been appreciating against the Turkish Lira since the beginning of October when the EUR/TRY currency pair reversed north from the psychological level at 6.1500.
As apparent on the chart, the exchange rate has been trying to surpass the resistance level formed by the monthly R2 at 6.5226 since the beginning of last week. Given that the rate is supported by the 55-, 100– and 200-hour SMAs, it is likely that some upside potential could prevail in the market. A possible upside target is the Fibo 50.00% at 6.7084.
However, note that the pair has to surpass the ascending trend line at 6.6000. If the given line holds, the pair could reverse south and go downwards to the Fibo 61.80% at the 6.3791 mark.