| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Buy |
| Stochastic (5; 3) | Sell | Buy | Sell |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The movement of the European common currency against the Polish Zloty has been bounded by two falling wedges. The bottom boundary of the senior pattern (valid since early 2016) was tested on January 26. The pair subsequently edged higher and breached the junior wedge a few sessions later.
The pair bouncing off its 2016/2018 low of 4.1320 suggests that the Euro could be due for a bullish climb within the following weeks. In order to confirm this scenario, the rate has to overcome the nearest resistance cluster set by the 55– and 100-hour SMAs and the weekly and monthly PPs at 4.16. The Euro might still trade sideways within the following sessions until the bottom boundary of the most junior channel up is reached.
On the other hand, weekly technical indicators point to a possible fall in price. It is expected, however, that the 200-hour SMA or the weekly S1 located at 4.1540 and 4.1454, respectively, would limit further decline.