| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The EUR/TRY currency pair has been appreciating gradually within a rising wedge pattern since the beginning of August.
From a theoretical point of view, it is likely that a breakout south could occur in the nearest future, and the exchange rate could go downwards. In this case the rate could gain support from the 200-period SMA and the monthly S1 in the 8.4000 area.
In the meantime, note that the currency pair is supported by the 55– and 100-period SMAs in the 8.7100 area. Thus, it is likely that bulls could continue to prevail in the market.