Indicator | 1H | 4H | 1D |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Buy | Sell | Sell |
Alligator (13; 8; 5) | Buy | Buy | Buy |
SAR (0.02; 0.2) | Sell | Buy | Buy |
Aggregate | ⇗ | ⇗ | ⇗ |
EUR/PLN has been trading in an ascending wedge pattern for the past two weeks. Waves of the given pattern are not very distinctive, as the 200-hour SMA have intervened effectively at changing the overall price direction and providing important support/resistance areas. The European common currency has lost its upside momentum, being limited by the 4.2502/12 area. In addition, the last correction south likewise failed to touch the lower wedge boundary, reinforced by the 55– and 100-hour SMAs. Technical indicators for the upcoming hours favour the Euro appreciating against the Polish Zloty; however, the upward trend is likely to diminish, giving the bearish sentiment the upper hand during the second half of this week.