In addition, the rate remained in a channel down pattern, which has guided the pair since July 20.
Daily Candle Chart
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Below, one can observe the market orders on September 21.
In regards to sell orders, there are orders for the sale of more than one thousand coins in the 1.7400 to 1.7600 range. Above this range, market participants had set up notable amount of sell orders from 1.9000 up to 1.9400. In this range, there were orders for around 500 coins to be sold.
On the other hand, there are orders to buy nearly 100 coins at all price levels starting from the 1.4400 mark. Meanwhile, note that there are orders for more than 500 coins at 1.3500 and more than 600 coins at 1.2900.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
If the pair surges, it would have to pass the sell orders at 1.7400/1.7500 and 1.1900/1.9400 before making an attempt to break the channel down pattern.
In the more likely case of a decline, the DUK+/EUR pair would reach for the 1.4400 mark first. A passing below the 1.4400 mark could find support either at 1.3500 or 1.2900.