EUR/TRY approached strong resistance level 3.4000
- EUR/TRY approached strong resistance level 3.4000
- Next buy target – 3.4700
EUR/TRY has been rising sharply in the last few trading days inside the minor impulse wave 3 – which started earlier – when the pair reversed up from the support zone lying between the pivotal support level 3.1880 (which reversed the price multiple times in March), lower daily Bollinger Band, 50% Fibonacci correction of the previous upward impulse form November and the support trendline of the daily up channel from May of 2015.
EUR/TRY is currently trading close to the strong resistance level 3.4000 (top of the previous impulse wave 1). If the pair breaks above 3.4000 - EUR/TRY can then rise to the next buy target at the major resistance level 3.4700.