EUR/DKK 4H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
As expected, the Euro/Danish Krona currency cross will make a break-out from present pattern in the nearest future. During past couple of hours, the trading range decreased to minimum, while trading volume continues to fall down. Statistically, 64% of all break-outs from descending triangles happen to the south. Moreover, daily technical studies send bearish signals at the moment, meaning that probability of movement to the downside is rather possible. At the same time, market participants currently do not believe in ability of Danish currency to gain value, as 74% of them are suggesting bullish tendency for the pair to persist, after the pattern is eventually confirmed.
© Dukascopy Bank SA
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