| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Buy |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The EUR/DKK exchange rate has been trading within a descending channel since the end of June.
From a theoretical point of view, it is likely that the currency pair could continue to trade downwards within the given channel in the medium term. In this case the pair could gain support from the monthly S3 at 7.4344.
Meanwhile, note that the exchange rate would have to decline below the monthly S2 at 7.4411. If the given support level holds, it is likely that a breakout north could occur, and the rate could target the Fibo 38.20% at 7.4581.