| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Buy | Neutral |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The slight appreciation of the common European currency has resulted in the formation of an ascending wedge.
On September 19, the pair reached a long-term resistance at 4.2676 and reversed to the downside. Subsequently, the same scenario occurred once again. This movement of the Euro demonstrates a minor consolidation period which is nevertheless slightly tended to the downside.
It is expected that the given pair pushes down to the lower wedge boundary this week; a possible range could be the 4.28 mark where a strong support of the weekly PP, the 200-, 55– and 100-hour SMAs are located. This could strand the pair between this level and the aforementioned support for some time, as bulls or bears need to gather quite a lot of strength to pass trough either of this barrier.