| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Neutral |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The EUR/NOK currency pair has been trading within a descending channel since the middle of June.
From a theoretical point of view, it is likely that some downside potential could prevail in the market, and the exchange rate could continue to decline within the given pattern in the medium term. Note that the rate could gain support from the Fibo 61.80% at 10.40.
Meanwhile, it is unlikely that bulls could prevail in the market, and the currency pair could exceed the monthly R2 at 11.07 in the nearest future.