| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Sell |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇒ | ⇒ |
During the first half of March, the EUR/NOK currency pair skyrocketed to the 13.00 level. Currently, the pair is trading near 12.00.
It is likely that the exchange rate could gain support from the 200-hour moving average near 11.60 and continue to trade upside. In this case the rate could reach the 14.00 level in the nearest future.
However, on the 1D time-frame chart the currency pair is located far above the 55-, 100– and 200-day moving averages. This might indicate that the pair is in the overbought zone. Thus, some downside potential could prevail. In this case the pair could gain support from the ascending trend line circa 9.8000.