| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The Euro has been depreciating against the Swedish Krona since the beginning of March after the exchange rate reversed south from the upper boundary of the long-term descending channel at 10.63.
As apparent on the chart, the rate is testing the resistance cluster formed by a combination of the 55-, 100– and 200-hour SMAs, currently located in the 10.45/10.46 range. If the given resistance holds, it is likely, that the currency pair trades down. A possible downside target is the Fibonacci 38.20% retracement at 10.33.
Otherwise, it is expected, that the pair breaches the given resistance and re-tests the upper channel boundary located circa 10.60.