EUR/DKK 4H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having reached a two and a half-year high of 7.4690 early April, the Euro commenced depreciation versus the Danish Krone. While retreating, the pair of two European currencies shaped a 182-bar triangle that was broken a few hours earlier. Although the breakout was followed by a sell-off, the decline was not sharp enough to confirm that the pair exited the pair in earnest. In fact, shortly after a drop, the instrument managed to recover all losses and now is on the way towards the pattern's lower limit. Meanwhile, technical numbers still warn us that the pair may depreciate in the following hours.
© Dukascopy Bank SA
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