EUR/DKK 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Despite being bounded by the trend-lines of ascending triangle pattern originated on April 2, EUR/DKK performed several unnaturally wide swings that nevertheless failed to lead to the breakout.
Now the pair is trading very close to the apex that will be attained in several hours, suggesting that the real breakout lies ahead. Currently, the pair is sitting right below the lower boundary of the triangle but the further decline seems unlikely given that EUR/DKK is on the rise. Technical data sheds some light on the future moves of the pair, sending ‘buy' signals for medium and long perspectives.
© Dukascopy Bank SA
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Fri, 11 Apr 2014 12:47:44 GMT

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