| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Sell | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇘ | ⇒ |
The EUR/HUF currency pair has been trading within the ascending channel since the middle of March. As apparent on the chart, the pair has already reversed north from the lower channel line at 319.83.
From a theoretical perspective, it is expected, that some upside potential could prevail in the market, as the exchange rate targets the upper channel boundary located in the 330.50/332.00 range. However, note, that the rate has to surpass the resistance level — the Fibonacci 23.60% retracement at 325.65.
If the given resistance holds, it is likely, that the pair could reverse south and re-test the lower channel boundary. If the channel does not hold, a breakout south could occur, and the rate could decline to the Fibonacci 50.00% retracement at 320.26.