| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Sell |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The EUR/TRY currency pair has been trading upwards within an ascending channel since the middle of June.
From a theoretical point of view, it is likely that the exchange rate could continue to trade within the given pattern within the following trading sessions. Note that the rate could face the resistance level—the monthly R1 at 7.8607.
If the predetermined resistance level holds, it is likely that a reversal south could occur, and the currency pair could re-test the support level formed by the Fibo 23.60% at 7.4452.