| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Euro has been appreciating gradually against the Hungarian Forint since the beginning of June when the EUR/HUF currency pair reversed north from the lower boundary of the long-term ascending channel at 320.00.
From a theoretical point of view, it is likely, that some upside potential could prevail in the market in the short term, and the exchange rate could reach the Fibonacci 23.60% retracement at 325.65.
If the given resistance does not hold, it is expected, that the general direction could remain north. Otherwise, the rate could reverse south to re-test the lower channel boundary. Note, that the pair is supported by the Fibonacci 50.00% retracement at 320.26.