| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The Euro has been appreciating against the Polish Zloty since the beginning of July after the EUR/PLV exchange rate reversed north from the lower boundary of the long-term descending channel at 4.2390.
As apparent on the chart, the currency pair has already reversed from the upper channel line at the 4.3965 mark. From a theoretical perspective, it is likely, that the pair could continue to decline, as it should reach the lower channel line in the medium term.
However, this decrease might not be immediate, as the rate has to surpass the support level formed by the Fibonacci 38.20% retracement at 4.3062. If the given support level holds, it is likely, that the could reverse north and re-test the upper channel line.