| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Buy | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Neutral |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
[ANNOUNCE] The EUR/NOK exchange rate has been constrained by a descending triangle which was formed in November, 2017. [/ANNOUNCE]
After testing the upper boundary of this long-term pattern early in May, the common European currency began depreciating against its Norwegian counterpart, thus reaching its bottom boundary at 9.47, likewise reinforced by the monthly S2, mid-yesterday.
It is likely that some downward pressure still prevails during the remaining part of this week, given that the pair might be pressured lower by the combined resistance of the 55-, 100– and 200-day SMAs near 9.60.
However, the general price direction should nevertheless remain upwards in line with the prevailing triangle pattern, with its upper boundary being located at 9.70.