| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The EUR/TRY currency pair has been extending gains within an ascending channel since the end of May. The pair has already exceeded the 7.6500 level.
From a theoretical point of view, it is likely that the exchange rate could continue to trade upwards within the given pattern in the medium term. In this case the rate could reach the 7.9500 level by the end of June.
Meanwhile, note that the currency pair could face the resistance formed by the monthly R1 at 7.8400. If the given level holds, it is likely that a reversal south could occur, and the pair could re-test the support level formed by the Fibo 23.60% at 7.4452.