Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Buy | Sell | Sell |
Alligator (13; 8; 5) | Sell | Sell | Neutral |
SAR (0.02; 0.2) | Buy | Buy | Buy |
Aggregate | ⇒ | ⇘ | ⇒ |
After finding support in the 38.20% Fibonacci retracement level at the 8.35 mark, the US Dollar made another attempt to break out of the descending pattern against the Norwegian Krona. However, the Greenback failed it its efforts, as the trend line held its ground. Due to that it can be assumed that the pair is about to reveal a short term pattern, which will guide the rate down to the 38.20% level once more. The relevant Fibonacci retracement levels for this pair are measured via connecting the 2016 low and 2015 high levels. Meanwhile, it can be observed that retracements posses rather minor strength and are unable to change the direction of the pair in the long term.