| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Buy | Neutral |
| Stochastic (5; 3) | Neutral | Buy | Buy |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
Bearish sentiment has been dominating the European common currency against the New Dollar since the beginning of October. The currency pair has already reached the lower boundary of the long-term ascending channel at 1.6350.
Currently, the rate is testing the lower channel line. Given that the pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that a breakout south occurs in the nearest future. Technical indicators for the 4H and 1W time frames support bearish scenario. It is likely that the rate targets the Fibonacci 61.80% retracement at 1.5845.
Otherwise, a reversal north occurs within following sessions. Important level to look out for is the Fibonacci 23.60% retracement at 1.7123.