EUR/CZK 1H Chart: Trades in falling wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The Czech Koruna has been appreciating against the Euro since the beginning of August after the pair reversed from the 2018 high at 26.14. This movement is bounded in a falling wedge.  

As apparent on the chart, the exchange rate reversed from the lower pattern line at 25.43. From the theoretical point of view, it is likely that a surge towards the upper boundary of the wedge at 25.63 could happen within following trading sessions. 

However, technical indicators suggest this advance might not be immediate. The pair could go down to the weekly R1 at 25.55 during next trading hours.

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