EUR/DKK 1H Chart: Triangle

Danish Krone's peg to the Euro results in small movements in EUR/DKK, but still does not prevent the currency pair from forming the patterns, in this case a triangle.

At the moment it may seem that the risks are largely to the downside, considering the signals provided by the technical indicators and the fact that the 200-hour SMA together with the upped boundary of the pattern represents a tough resistance level at 7.4596. However, an overwhelming majority (73%) of SWFX marketplace participants believe the Euro will violate the down-trend resistance line and gain value in the future, they are holding long positions.