| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇘ | ⇗ |
The Euro has been depreciating gradually against the Norwegian Krone since the end of August when the EUR/NOK currency pair reversed south from the upper boundary of the rising wedge pattern at 10.09.
Currently, the exchange rate is testing the resistance level formed by the monthly PP at 9.97. If the given level holds, a reversal south could occur in the nearest future. Note that the rate could gain support of the monthly S1 at 9.85.
If the given support level holds, it is likely, that the pair could trade sideways between it and the given resistance level in the medium term. Otherwise, it is expected that the pair could reach the lower pattern line located in the 9.60/9.70 area.