| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Sell | Buy | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
The Euro has been appreciating against the Danish Krone since the beginning of September after the EUR/DKK exchange rate reversed north from the support level formed by the Fibonacci 38.20% retracement at 7.4555.
Given that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, currently located circa 7.4665, it is likely that some downside potential could prevail in the market. The nearest potential downside target is the Fibonacci 23.60% retracement at 7.4609.
If the given level holds, a reversal north could follow. It is unlikely that bulls could prevail in the market, and the Euro could exceed 7.4696 against the Greenback due to the resistance level formed by the Fibonacci 0.00% retracement and the weekly R1.