| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Euro has been appreciating against the Czech Koruna since the beginning of August. This movement has been bounded in the ascending channel.
As apparent on the chart, the EUR/CZK currency pair is testing the lower channel at 25.85. From a theoretical point of view, it is likely, that the pair could reverse north from the given line in the nearest future. If the given channel hold, the pair is likely to continue going up within it.
However, note, that the exchange rate has to surpass the resistance level formed by the Fibonacci 23.60% retracement at 25.94. If the given resistance holds, a possible advance might not be immediate. Also, it is unlikely that bears could prevail, and the rate could drop lower than the 25.79 mark due to the support of the Fibonacci 38.20% retracement.