| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | 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 end of February after it reversed north from the psychological level at 6.5500. Currently, the pair is trading near the resistance level—the monthly R2 at 7.1586.
Note that the exchange rate is supported by the 200-hour moving average, currently located near 7.0000. Thus, some upside potential could prevail in the market, and the rate could touch the Fibonacci 23.60% retracement at 7.4452.
However, if the given resistance level holds, it is likely that a reversal south could occur in the nearest future. In this case the currency pair could gain support from the Fibonacci 50.00% retracement at 6.7084.