| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The EUR/CZK currency pair has been trading up since the middle of April after the pair reversed north from the lower boundary of the symmetrical triangle pattern at 25.60.
As apparent on the chart, the pair could not surpass the monthly PP at 25.75. Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, it is likely that some downside potential prevails in the market. The rate could re-test the lower pattern line.
If the given pattern does not hold, it is expected, that a breakout south could occur. A possible downside target is the Fibonacci 62.40% retracement at 25.56. Otherwise, the rate could reverse north and target the upper triangle boundary located in the 25.76/25.80 range.