| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
The EUR/PLN exchange rate has been trading downwards since the end of August after it reversed south from the psychological level at 4.4000. The decline was guided by the descending trend line.
Note that the currency pair is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 4.3410/4.3624 range. Thus, it is likely that bears could continue to prevail in the market. In this case the rate could get support from the Fibonacci 38.20% retracement at 4.3062.
If the given support level holds, it is likely that a reversal north could follow. Otherwise, it is expected that the pair could continue to decline towards the Fibonacci 50.00% retracement at 4.2738.