| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇒ |
The USD/PLN currency pair has been trading within the head and shoulders pattern since the beginning of November (4H time-frame chart). As apparent on the chart, the second shoulder is being formed.
From a theoretical point of view, it is likely that some downside potential could prevail in the market in the nearest future. In this case the exchange rate could target the psychological level at 3.8200.
However, note that the expected decline might not be immediate, as the currency pair is supported by the 55– and 100-hour moving averages, currently located circa 3.8650. Also, it is unlikely that bulls could prevail, and the pair could exceed the monthly R1 at 3.9680.