USD/DKK 4H Chart: Channel Up

Even though the pair's appreciation rate decreased slightly, it is still constantly gaining value since the beginning of May, when this year's low was reached at the 5.3334 mark.

At the moment the Greenback is underperforming the Danish krona after the pair hit the upper trend-line of the pattern at 6.0192. According to short-term technical indicators, the Buck will continue losing ground within the boundaries of the bullish channel, while later a recovery is anticipated. It is likely that the pair will start growing even before the lower boundary. Moreover, market participants are also betting on the bullish move, as 59% of all opened positions on the market are long.