| 4H | 1D | 1W | |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
Since the beginning of August, the EUR/DKK exchange rate has been trading downwards, guided by a descending trend line.
Note that the currency pair has gained support from the 55– and 100-period SMAs, as well the monthly S1 in the 7.4396/7.4412 area. Thus, some upside potential could prevail in the market, and the pair could target the Fibo 61.80% at 7.4485.
Meanwhile, note that the exchange rate could face the resistance formed by the 200-period SMA near 7.4435. Thus, the rate could continue to decline in the medium term.