EUR/DKK 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has noticeably narrowed it's trading range—from 67 pips in the beginning of the pattern to 12 pips recently. In addition pair is trading in the last one fifth of the pattern's length which in itself already speaks about the increased probability of a breakout. Add a very high magnitude (of moves) rating of the pattern and we have a situation with the potential of significant gains. Speaking about the breakout it is worth pointing out that short and long term technicals give bullish outlook. Most likely it is indicating a soon to happen nonce from the pattern's support in the short term and a bullish outbreak in the long term.

© Dukascopy Bank SA
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Wed, 28 Aug 2013 14:18:17 GMT

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