EUR/NOK 1H Chart: Previous forecast at work

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Sell Neutral
Stochastic (5; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The previous forecast made for the EUR/NOK on Friday was fulfilled by the middle of Monday's trading session.  

Namely, the currency exchange rate, after making many attempts against the dominant resistance line of an ascending channel pattern, the rate declined. During the decline, the pair passed the support of a junior descending pattern and fell as low as the 6.6280 mark. 

Although, in the second half of Monday's trading the rate had rebounded and surged up to the previous trading session's levels.

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