| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Neutral | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The recent depreciation of EUR/TRY has resulted in the formation of a channel down. The rate was bounded by the given pattern for several weeks when the last wave up peaked above the upper channel line and reversed at 4.16. The pair has since returned in the channel and reached the 38.2% Fibonacci retracement line.
This area have worked effectively on previous occasions to consider it a valid support. In addition, technical indicators flash signals that a recovery may be due in the nearest trading hours.
In case this scenario fulfills, the next resistance levels that should be taken into account is the monthly PP at 4.1186 or an intersection of the 200– and 100-hour SMAs circa 4.1250.