| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The European Common Currency has been depreciating against the Swedish Krone since the beginning of May when the exchange rate reversed south from the upper boundary of the long-term ascending channel at 10.83.
As apparent on the chart, the rate surpassed the monthly PP at 10.69. from a theoretical perspective, it is expected, that the currency pair could reach the lower channel line located circa 10.62 and reverse north within the following trading sessions.
However, if the given channel does not hold, it is likely, that a breakout south could occur soon. A possible downside target is the monthly S1 at the 10.52 mark.