USD/DKK 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
On the one hand, the ascending triangle proclaims that the trend of the pair is mainly tilted to the north. However, before the pattern emerged USD/DKK was losing value below the 200-hour major trend-line. Mixed scenario is being expected by the technical indicators at the moment, as they diverge on 4H and daily time frames. From the point of view of the distribution between long and short SWFX positions, the US Dollar is overbought (74%) and it risks diminishing in value. To affirm the bearish intentions, USD/DKK is requested to close the rate both below the green boundary of the triangle and the 200-hour SMA at 6.52/51. By doing that, the focus will turn to the weekly PP at 6.4867.
© Dukascopy Bank SA
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