| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The European Common Currency has been depreciating against the Norwegian Krone since the beginning of May. This movement has been bounded in the short-term descending channel.
As apparent on the chart, the currency pair has already reversed south from the upper channel line at 9.8262. From a theoretical point of view, the pair should continue to go downside, as it has to reach the lower channel line located circa 9.6820.
However, this decline might not be immediate, as the exchange rate has to surpass the support level located at the 9.7600.