| Indicator | 4H | 1D | 1W |
| 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 | Sell | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
The EUR/NOK currency pair has been testing the upper boundary of the long-term descending channel since the middle of November.
Currently, the exchange rate is trading nearby given channel line at 9.7500. Given that the pair is being supported by the 55-, 100– and 200-hour SMAs, it is likely that a breakout north occurs within following sessions. It is expected that the rate targets the Fibonacci 0.00% retracement at 9.8056. Technical indicators for the 4H and 1W time frames support bullish scenario.
However, if given channel hold, a reversal south occurs in the nearest future. Important level to look out for is the Fibonacci 38.20% retracement at 9.6528.