EUR/DKK 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The single currency has been strengthening versus the Danish Krone since late November when the pair started to shape a channel up pattern that now is 297-bar long and has both quality and magnitude above average. Recently, the currency couple has attempted to breach the lower limit of the pattern but failed to do this as the pattern's boundary is supported by 200-hour SMA that prevented the decline. Meanwhile, technical indicators are sending bearish signals for the short and medium terms but are bullish for the long-term.
© Dukascopy Bank SA
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