Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Buy | Buy |
RSI (14) | Buy | Neutral | Sell |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Sell | Buy | Buy |
SAR (0.02; 0.2) | Sell | Sell | Buy |
Aggregate | ⇘ | ⇒ | ⇗ |
The last review of the EUR/HUF pair mentioned the reveal of a dominant pattern, whose resistance has pushed the rate lower.
The decline had extended through the first week of July. Namely, on Thursday the rate had touched the 323.00 level. The decline had been occurring in a narrow, very steep, most likely short term descending channel pattern. This pattern is most likely going to guide the rate for the next 24 hours until the currency pair reaches the S1 at the 320.54 mark.
However, note that the pattern is too narrow to last that long. A decline so steep very rarely lasts that long.