| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Neutral | Neutral |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The common European currency is trading in two channels simultaneously against the Norwegian Krone. The senior pattern has confined the rate in a slight upward momentum for the last three weeks. The junior one, however, formed when the rate failed to push trough the 9.4049 mark this week.
During the time, the rate has been fluctuating around 9.38 where the 38.2% Fibo, the weekly R2 and the monthly R1 are located. As the rate had already tested the upper channel boundary prior to edging lower, it might be suggested that this bearish sentiment is likely to continue, most probably down to the 23.6% Fibo near 9.32.
This area is likewise reinforced by the 200-hour SMA and the weekly and monthly PPs. However, the rate has to break the aforementioned 9.38 mark to confirm this assumption.