| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇘ |
The Euro has been depreciating against the Polish Zloty since the beginning of March. This movement has been bounded in the descending channel.
As apparent on the chart, the currency pair has already reversed south from the upper channel boundary at 4.3007. From a theoretical point of view, some downside potential should prevail in the market, as the pair targets the lower channel line. However, it is unlikely, that pair declines lower than 4.2700 due to the lower boundary of the long-term ascending channel.
On the other hand, given, that the exchange rate is supported by the 55-, 100– and 200-hour SMAs, it is likely, that bulls could prevail in the market. Resistance level to look out for is the Fibo 38.20% at 4.3062.