| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇒ |
The EUR/HUF exchange rate continued to trade within the rising wedge pattern. As apparent on the chart, the rate reversed north from the lower pattern line at the beginning of January.
From a theoretical point of view, it is likely that some upside potential could prevail in the market, as the currency pair should target the upper pattern line at 337.70. If the given pattern holds, the pair could trade within it in the medium term.
However, note that the expected advance might not be immediate as the exchange rate has to surpass the resistance level—the monthly R1 at 334.59. If the given resistance holds, it is likely that the rate could re-test the lower pattern line.