Aprox. levels: BS: 6.61; SL: 6.47; TP: 6.78 (1) 7 (2) (2.57%) (-2.12%) = 0.45
Stop loss, entry price and targets are mentioned.
downtrend & rsi divergence in weekly & moving average
The price is trading within a 1D Channel Up (RSI = 55.026, MACD = 0.031, B/BP = 0.0100) and is close to printing the new Higher Low (Highs/Lows = 0.0000). The next Higher High extension should be near 6.70870. Long with TP = 6.68070.
The previous forecast worked, and the USD/DKK currency pair has reached the upper boundary of a long-term ascending channel located circa 6.6000. As apparent on the chart, the exchange rate reversed south from the upper channel line at the beginning of November. From a theoretical point of view, it is expected that the pair goes downwards. A potential target is...
The US Dollar has been appreciating against the Danish Krone after the currency pair reversed from the lower boundary of a long-term ascending channel at 6.3200. Currently, the exchange rate is trading in a short-term ascending channel as well. It is expected that the pair will breach the junior trend and will aim for the upper boundary of the senior channel...
The US Dollar is appreciating against the Danish Krone in a short term ascending channel. This gradual increase in price began when the rate reversed from the 6.3600 mark. Currently, the rate is being supported by the 55– and 100-hour SMAs on the 1H time-frame. It is expected that the rate eventually gathers the necessary momentum to breach the junior channel....
Price was pushed off weekly 50 Fibonacci level forming a shooting star on daily. Half of the move already took place and this is how far we can short on hourly after Fib extension (there is cloud support on 4 hours | weekly | monthly and daily tenkan-sen at that extension).
USDDKK has preserved the long term Channel Up on 1W (RSI = 69.995, MACD = 0.069, Highs/Lows = 0.1019, B/BP = 0.3423) as it broke the previous consolidation on 1D to the upside. As you see on the chart there are recurring patterns on 1D (Channel Up after Rectangle) so the pair will now most likely print a Channel Up (RSI = 67.432, ADX = 34.541) on 1D towards the...
The US Dollar has appreciated substantially against the Danish Krone during the past two months. This 8.35% surge was guided in an ascending channel. Following a reversal from the senior channel at 6.46 last week, the Greenback breached the junior pattern and several important support levels along the way, including the 100-period (4H) and 200-hour SMAs. The...
USD/DKK has been trading in an ascending channel for the last five weeks, thus breaching a dominant senior channel along the way in early May. The latest test of this junior pattern occurred on Monday when the pair reversed from the weekly S1 and the senior channel near 6.21. From theoretical point of view, the pair might still realise the existing upside...
The US Dollar has been trading in a long-term descending channel against the Danish Krone in force since late 2016. The pair’s neat movement in this channel was disrupted in January when a reversal to the upside occurred without the pair reaching its bottom boundary. The Greenback has since been moving in a slight up-trend, but it has nevertheless failed to...
It is update to me previous idea about this pair. Similar patter appeared on the chart on 4h chart. GAP's lime rectangles are based on the weekly chart and are acting as strong support areas. Pair is trading below 200 ema which is good bearish signal. USDDKK -0.14% is trading in channel for time being and my TP is set based on it. I will be watching this pair if...
It is update to me previous idea about this pair. Similar patter appeared on the chart on 4h chart. GAP's lime rectangles are based on the weekly chart and are acting as strong support areas. Pair is trading below 200 ema which is good bearish signal. USDDKK is trading in channel for time being and my TP is set based on it. I will be watching this pair if it will...
I see an initial sign of dollar getting some strength. As you can see here from weekly chart of USDDKK, a RSI divergence is now observed, indicating the bull is about to take control. And if you pull the Fibonacci extension tool, current price is testing the 0.382 support line, which seems to be a short term resistance observed on week of 8th December 2014. If the...
It is not much here on the chart. What I found is that top of the upside down head and shoulders formation touches the lowest lows from last 2 years May 2016 and August 2015. Those two lows created very strong support/resistance area. Pair is rejected perfectly from this level. From my experience Upside down head and shoulder formations are very good sign...
There is a Reverse Head and Shoulders pattern in the USDDKK. This could be confirmed by breaking through the neckline