| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇒ |
As apparent on the chart, the Euro has been appreciating against the Hungarian Forint since the beginning of November after the EUR/HUF currency pair re-tested the lower boundary of the rising wedge pattern at 327.88.
From a theoretical point of view, it is likely that some upside potential could continue to prevail in the market, as the exchange rate should target the upper pattern line located circa 338.00. Important level to look out for is the Fibonacci 0.00% retracement at 336.09.
It is unlikely that bears could prevail in the market, and the Euro could tumble lower than the Fibonacci 50.00% retracement at 323.07 against the Hungarian Forint.