| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇗ |
The EUR/TRY exchange rate has been trading downwards since the beginning of February after it failed to surpass the 6.6400 level.
Note that the currency pair is trading near the lower boundary of the rising wedge pattern (4H time-frame chart) at 6.5400. Thus, it is likely that the pair could reverse north in the nearest future. In this case the pair would have to surpass the Fibonacci 50.00% retracement at 6.7084.
On the other hand, note that the exchange rate is pressured by the 55-, 100 and 200-hour SMAs, currently located in the 6.5650 area. Thus, a breakout south could occur in the nearest future. A possible downside target is the Fibonacci 61.80% retracement at 6.3791.