| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Neutral | Buy |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇗ |
The common European currency has been depreciating against the Czech Koruna since early July. This movement was bounded by a descending channel until the this pattern was breached to the upside last week.
Since then, the pair has been moving sideways with diminishing trading range. This lack of direction is caused by the 55– and 200-period (4H) SMAs which are pressuring the rate from both sides. At the time of this analysis, both moving averages were located at 25.70 and 25.75, accordingly.
It is expected that a breakout of one of these lines would be met with a surge in the respective direction. Technical indicators on longer time-frames are in favour of the bullish scenario. In this case, a few-day target is the 23.60% Fibonacci retracement and the monthly R1 at 26.00. On the other hand, bears are likely to push the rate down to the monthly S1 at 25.40.