EUR/DKK 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Even despite the fact Danish Krone is pegged to the single currency and it's movements against are limited, ascending triangle pattern with high percentage of magnitude and quality are making it worth trading. At the moment of writing, the pair was changing hands around pattern's support, aggregate technical indicators are sending "buy" signals, suggesting the pair will bounce back from the current level and move in pattern's resistance's direction. Moreover, 200-bar SMA at 7.4579 will pose certain difficulties for bears to push the pair lower in case of the downside breakout.
© Dukascopy Bank SA
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