EUR/DKK 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the beginning of October, EUR/DKK has been falling, vacillating between two parallel downward sloping lines. At the moment, the pair is a subject to a selling pressure that stated to play its role in the pair's movements after EUR/DKK soared from the pattern's support to above 50-hour SMA a couple of hours ago. Traders' sentiment also shows that market players believe the selling pressure will continue to push the pair down; 57.14% of all orders are placed to sell the currency couple.
© Dukascopy Bank SA

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