EUR/DKK 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having tested its 200-bar SMA, EUR/DKK was gradually climbing to move close to the apex of the ascending triangle pattern, but has not seen a breakout yet that the most likely will result in an appreciation of the pair towards the level of 7.4615 (daily R2) and 7.4625 (daily R3).
Traders also are optimistic about the currency couple as the proportion of long positions is 57.14%, while only 42.86% of traders expect a bearish trend. Technical indicators also call for an advancement of EUR/DKK in the long- and short-term.
© Dukascopy Bank SA
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