In the meanwhile, note that interactive Dukascopy Online chart of the rate is now available.
Daily Candle Chart
Since this Monday, the Dukascopy online chart of the DUK+/EUR is being used for analysis. It allows any of the indicators available on the online charts to be used.
To the chart observable above Dukascopy Analytics have added the usually used indicators – weekly and monthly simple pivot points and the 55, 100 and 200-period simple moving averages.
Market Depth
If one looks at the market depth statistics published at dukascoin.com, it can observed that the pair has no support in the form of bid order clusters.
© Dukascopy Bank SA
© Dukascopy Bank SA
Meanwhile, the rate also had no resistance, as the closest by notable sell order concentration was located at the 0.6600 level.
Above it, the next notable sell order concentration was at the 0.8000 level.
Future outlook
In regards to the near term future, one can combine a number of factors that signal that the rate is most likely set to trade sideways.
Namely, on the daily candle chart it can be observed that the rate is located between the support levels that are located at or near 0.6000 and resistance levels from 0.6730 to 0.7170.
In the meantime, a continuation of a decline could be unlikely due to the simple moving averages being located far above the rate, near the 0.8000 level.
Combine the technical chart with the lack of both buy and sell orders, and one can expect a period of consolidation, which is set to follow the decline of the last two weeks.