This week the coin started back at the support of the 0.7300 mark.
Meanwhile, buy and sell order clusters had moved, indicating that support and resistance zones have changed.
Previous Daily Candle Chart
Updated Daily Candle Chart
On the daily candle chart one can observe that the rate experienced a sharp surge last Wednesday, which was stopped by the 0.8300 level. It occurred just below the cluster of sell orders that last week were set at the 0.8400 level.
The event was followed by a decline, which on Monday had once more reached the support of the 0.7300 level.
Market Depth
If one looks at the market depth statistics published at dukascoin.com, it can be seen that the DUK+/EUR rate now has additional resistance and support levels to take into account.
This week, close by bids are still located at the 0.7300 level, due to which this level is still expected to provide support.
Additional support will be provided by a new cluster of buy orders. On Monday, the orders were concentrated around the 0.7000 level. The orders were located from 0.6800 to 0.7100 levels. The largest amount of buy orders was at the centre of it, at 0.7000.
Meanwhile, the rate faced additional resistance. Namely, there were concentrations of sell orders at 0.7600, 0.8500 and 0.9000. Last week sell orders were at 0.8400.
Future outlook
In general, the future outlook depends on what happens at the 0.7300 level.
If the support of the 0.7300 is passed, the DUK+/EUR rate could decline down to the 0.7000 level. Although, note that the decline should be immediately slowed down by the buy orders above 0.7000.
On the other hand, in the case of a bounce off from the support, the rate will first test the resistance at 0.7600, which is rather weak, compared to the support of 0.7300.
Breaking of the 0.7600 resistance would most likely result in a surge, which would test the sell orders at 0.8500.