| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The common European currency has surged by 2.05% against the Australian Dollar since January 20. The currency pair tested the upper line of a descending channel pattern at 1.5931 on February 1.
Everything being equal, the exchange rate could continue to trend higher during the following trading sessions. A breakout through the upper boundary of the channel pattern is likely to occur.
However, if the descending channel pattern holds, a decline towards the 1.5600 level could be expected this week.