| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The EUR/NOK currency pair breached the long-term ascending channel south last week.
Currently, the exchange rate is testing the support level formed by a combination of the Fibonacci 38.20% retracement and the monthly S1 located circa 9.6480. Given that the pair is being pressured by the 55-, 100– and 200-hour SMAs, it is likely that some downside potential prevails in the market. A possible downside target is the psychological level at 9.6000.
However, if given channel holds, it is expected that a reversal north occurs in the nearest future. It is likely that the rate targets the Fibonacci 0.00% retracement at 9.8056.