| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The European common currency has been appreciating against the Turkish Lira for five weeks. This movement has been bounded in a falling wedge.
As apparent on the chart, the exchange rate is trading near the support cluster formed by the 55-, 100–. 200-hour SMAs and the Fibonacci 38.20% retracement in the 6.9883/7.0638 range. It is expected that the pair will breach given support and trade down to the lower wedge line located circa 6.70.
However, if given support cluster holds, a breakout from the pattern could occur and the pair could jump towards the psychological level at 7.3500.