| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Buy |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The Euro has been depreciating against the Norwegian Krone since the beginning of February. This movement has been bounded within the falling wedge pattern.
From a theoretical point of view, it is likely that a reversal north could occur in the nearest future. In this case the EUR/NOK exchange rate could re-test the psychological level at 10.30.
However, note that the currency pair is pressured by the 200-hour moving average located near 10.06. Thus, some downside potential could continue to prevail in the market. In this case the pair could gain support of the Fibonacci 23.60% retracement at 9.94.