| Indicator | 1D | 1W | 1MN |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The common European currency was depreciating substantially against the Norwegian Krone for several weeks prior to reversing from the senior channel circa 9.50 mid-March and forming a new up-wave. The pair breached a medium-term channel and retraced from its upper boundary last week.
Given that the rate is currently supported by the 55– and 100-period SMAs, it is more likely to accelerate and target the upper boundary of the newly-formed channel near 9.85/00. This area is likewise reinforced by the 61.8% Fibonacci retracement drawn from Dec 2017 high and 2018 low of 9.9950 and 9.4678, respectively, while monthly pivot points will be re-calculated tomorrow.
The given bullish scenario is also confirmed by technical indicators which flash bullish signals on 1D, 1W and 1MN time-frames.