| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The Euro has been appreciating against the Danish Krone since the beginning of July after the EUR/DKK exchange rate reversed north from the lower boundary of the long-term ascending channel at 7.4620.
From a theoretical point of view, some upside potential should prevail in the market, as the rate targeted the upper channel line located circa 7.4730. However, note, that the currency pair has to surpass the resistance level formed by the Fibonacci 0.00% retracement at 7.4680.
If the given resistance holds, it is likely, that the pair could reverse south. In this case, the rate could re-test the lower channel line. It is unlikely, that a breakout south could occur due to the support level formed by the Fibonacci 23.60% retracement and the monthly S1 at 7.4609.