| 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 | ⇒ | ⇘ | ⇒ |
Since the beginning of October, the EUR/NOK exchange rate has been trading within a falling wedge pattern.
From a theoretical perspective, it is likely that a breakout north from the given pattern could occur within the following trading sessions. In this case the currency pair could target the 11.20 level.
Meanwhile, note that the exchange rate is pressured by the 100– and 200-period moving averages in the 10.85 area. Thus, some downside potential could prevail in the market, and the pair could face the support level—the Fibo 61.80% at 10.40.