The event has caused an end to the sell order wall, which was present at 3.5100, and a sell off. Since the last changes made on July 20, the rate has been fluctuating near the 2.3000 mark. However, take into account that there are still orders to sell more than 5,000.00 coins at the 2.5100 mark, which indicates that future gains are highly unlikely.
In regards to the changes in trading conditions, more can be read via the link below.
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 July 28.
There are orders to buy at least 100 coins at almost each exchange rate level below the 1.9900 mark. At most levels it is exactly 100 coins. Due to that reason it can be assumed that a larger market player keeps orders to buy up coins, if the price declines.
In regards to sell orders, on July 28 there was a notable sell order cluster at 2.5100. At that level, 5,564.60 coins should be sold.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In the future the rate is bound to remain below 2.5100 level, as it did below the 3.5100 mark for months on end. The massive amount of sell orders is going to stop any attempts at a surge.
Meanwhile, the rate could decline, if the sellers of the 2.5100 level give in and take the buy orders that start at 1.9900. Moreover, another change of trading conditions would most likely cause an immediate adjustment of the DUK+/EUR exchange rate.