| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Neutral | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The common European currency has been depreciating in a descending channel pattern against the British Pound since July 16. The currency pair bounced off a psychological support level at 0.8900 on July 25.
A breakout occurred through the upper boundary of the descending channel pattern at 0.8962 on July 26.
Given that a breakout had occurred, it is likely that the exchange rate will aim for a swing high at 0.9032 within this week's trading sessions.
Furthermore, technical indicators demonstrate that bullish traders will dominate the currency exchange rate during the following trading sessions.