| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The common European currency is trading against the Hungarian Forint a one-month long descending channel. Most probably this pattern represents a part of a larger four-month long ascending channel.
If this assumption is true, then the currency rate should make a rebound somewhere between the 308.00 and 308.50 levels and resume an upward movement.
In short term, recovery of the Euro might be obstructed by the falling moving averages as well as the monthly S1, but, in larger perspective, the pair should inevitably bypass them.
In support of this assumption, an aggregate of technical indicators for the next week and month sends clear buy signal. Moreover, the market sentiment is 71% bullish.