| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The EUR/TRY currency pair has been trading upwards since the beginning of December when the pair reversed south from the lower boundary of the rising wedge pattern at 6.3160.
Currently, the exchange rate is trading at the 6.6000 mark. From a theoretical point of view, it is likely that some upside potential could continue to prevail in the market, as the rate should reach the upper wedge line located circa 6.7000.
If the given pattern holds, it is likely that the Euro could continue to appreciate against the Turkish Lira in the medium term. Otherwise, a breakout south could follow.