| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Sell | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
The recent developments on the chart indicate the common European currency has formed a rising wedge pattern against the Norwegian Krone. Formation of this pattern began amid the narrowing fluctuations of the pair within the active ascending channel. From the technical perspective, a breakout most likely is going to occur in the downward direction once the pair will meet a combined resistance put up by the monthly R1 at 9.6058 and weekly R2 at 9.6109. On the other hand, it might happen even earlier if the pair fails to break through the weekly R1 at the 9.5554 level. Similarly, if the rate will show a considerable strength, it could even reach the 100% Fibonacci retracement level of the 2016 high and 2017 low levels at the 9.7196 mark.