Daily Candle Chart
On the technical chart it can be observed that the daily simple moving averages have been impacting the currency exchange rate.
Namely, the 55-day SMA has been providing support and the 100 and 200-day SMAs have been acting as resistance.
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 June 8.
Note that at the 1.5000 level there are orders to buy 446 coins, and at 1.4900 mark 837 coins could be bought.
In the meantime, starting from the 1.4500 exchange level there are orders to buy at least one thousand coins at each price level.
In regards to sell orders, there are orders to sell more than 1000 coins at 1.5100 and 1.5300. In addition, 510 coins would get sold at 1.5200.
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
Two future scenarios are possible. Sideways trading or a surge.
In the case of a surge, the rate would pass the 1.5100/1.5300 zone and aim at the 1.6000 exchange level.
On the other hand, the rate might fluctuate between the 1.5000 and 1.5100 levels. Namely, there would be no volatility at all, as the buyers and sellers remain at a stalemate until new market participants show up.