| 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 | Neutral | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
The EUR/PLN currency pair has been trading within the descending channel since the beginning of November. As apparent on the chart, the pair reversed from the lower channel line at the beginning of February.
From a theoretical perspective, it is likely that some downside potential could prevail in the market in the nearest future, as the exchange rate should target the lower channel line located in the 4.2100 area. If the given channel holds, it is likely that some downside potential could prevail in the medium term as well.
However, note that the currency pair would have to surpass the monthly S3 at 4.2225. If the given support holds, it is likely that the pair could breach the given channel north in the medium term. A possible upside target is the psychological level at 4.3300.