USD/DKK 1H Chart: Ascending Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The ascending triangle pattern has not been completed yet, because the USD/DKK pair remains within its boundaries at the moment. Statistically and due to historical evidence, the one can anticipate a downward break out over the next 24 hours. However, for that to happen the US Dollar's bears should relatively successfully deal with two moving average lines (100/55-hour) that are boosted by the daily pivot point today. Daily technical studies suppose they will be able to overcome this support, because it should expose the pattern's green trend-line at 6.5360. Meanwhile, the bullish SWFX market share is 74%. It indicates that there is almost no extra room left for the fresh long positions.
© Dukascopy Bank SA
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