EUR/CZK 4H Chart: Rising wedge pattern in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The EUR/CZK exchange rate has been trading upwards within a rising wedge pattern since the end of September.  

From a theoretical perspective, it is likely that the currency pair could trade upwards within the given pattern within the following trading sessions. Then, a breakout south could follow. 

Meanwhile, note that the exchange rate could gain support from the 55– and 100-period SMAs in the 27.20 area. Thus, some upside potential could prevail in the market, and the rate could reach the 28.00 level.

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