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Still, there is some downward potential left. The 38.2% Fibonacci retracement of the May 2014—Mar 2015 rally is at 6.44, and we might descend down to the 50% retracement at 6.23 before the upper boundary of the patter is broken. In the meantime, the SWFX traders appear to be confident that the Greenback is going to outperform the Danish Krone: as many as 74% of open positions are long.
© Dukascopy Bank SA