In the meantime, it was discovered that a large concentration of buy orders had appeared near 1.3000 and 1.2500 exchange levels.
Daily Candle Chart
On the daily candle chart it can be spotted that the exchange rate is ignoring the monthly simple pivot points. For example, the monthly S1 PP at 1.3600 has failed to impact the rate.
Meanwhile, the 200-day simple moving average had reached above the 1.4500 mark. During the week, the SMA could strengthen the sell orders at 1.4800.
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Dukascopy Analytics has visualized the data by marking the buy and sell order levels on the chart. Below, one can observe the market orders on April 28.
The most close by cluster of buy orders was surrounding the 1.3000 level. Near that level, there were orders to buy 2500 coins.
In the meantime, there were orders to buy 5357.5 Dukascoin near the 1.2500 mark.
Afterwards, note that starting from 1.0000 there are orders to buy up at least 2000 coins at each price level.
In regards to sell orders. There are orders to buy more than 200 coins at 1.3800, 1.4800, 1.5900 and 1.7300.
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In the near term future, the pair could surge up to the resistance of the 1.4800 level. That is expected due to the pair having no resistance, except the sell orders at 1.3800.
Meanwhile, it is possible that the rate continues to trade sideways around the 1.3500 mark. This scenario could occur due to the recent low volatility of the rate.