| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
The common European currency has formed a descending channel pattern against the US Dollar. The pattern represents the pairs bounce off a resistance cluster made up of various levels of significance. As a result a short term descending channel has formed. The rates decline in the borders of the channel have been hindered by the support of the 38.20% Fibonacci retracement level of the 2015 high and 2016 low levels at the 1.1190 mark. However, as the retracement has been pierced, it is unlikely to hold long. It is highly possible that the pair will soon retreat down to the support of the medium term channel, which has guided the pair through May.