| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The EUR/DKK currency pair has been declining since the end of July when it reversed south from the Fibonacci 0.00% retracement at 7.4695. As apparent on the chart, the rate has been testing the support level—the Fibonacci 38.20% retracement at 7.4555 since last Wednesday.
If the given support level holds, it is likely that a reversal north could occur in the nearest future. In this case the exchange rate could target the given Fibonacci 0.00%.
However, note that the rate is pressured by the 55-, 100– and 200-period moving averages on the 4H chart. Thus, the rate could breach the given support level and continue to go downwards. In this case, the pair could gain support of the Fibonacci 50.00% retracement at 7.4512.