Daily Candle Chart
On the daily candle chart it can be spotted that the exchange rate did not respect the resistance of the 55 and 200-day simple moving averages during its recent surge.
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Dukascopy Analytics has visualized the data by marking the buy and sell order levels on the chart. Below, one can observe the market orders on May 18.
The most close by cluster of buy orders was at the 1.2900 level, where 618 coins could be bought.
In the meantime, there were orders to buy 1810 Dukascoin near the 1.2600 mark. Meanwhile, there were orders to buy almost 500 coins at 1.1500, 1.1000 and 1.0500.
Afterwards, note that starting from 1.0000 there are orders to buy up at least 2000 coins at each price level.
In regards to sell orders, there were clusters to sell about 500 coins near 1.4500 and 1.5000. Meanwhile, almost 1000 coins would get sold at 1.5500.
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In regards to the future, the rate was expected to make another attempt to surge. In this case it would meet with more resistance the higher it surges. However, if the pair passes the 1.5500 mark, it could reach for the 1.7000 level.
On the other hand, the rate could trade sideways until the background fundamentals change. Namely, a larger risk on sentiment would cause a surge of the coin.