Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD(12;26;9) | Sell | Sell | Buy |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Neutral | Neutral | Neutral |
Alligator(13;8;5) | Sell | Sell | Buy |
SAR(0.02;0.2) | Sell | Sell | Buy |
Aggregate | ⇘ | ⇘ | ⇗ |
The Euro has been depreciating against the Czech Koruna since the middle of September. This movement has been bounded in the falling wedge pattern.
From a theoretical point of view, it is likely that a breakout south from the given pattern could occur within the following trading sessions. In this case, the EUR/CZK currency pair could target the resistance level formed by the Fibonacci 23.60% at 25.94.
However, note that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 25.78/25.83 area. Therefore, the rate could breach the given pattern south and continue to decline. A possible downside target is the Fibonacci 62.40% retracement at 25.56.