USD/DKK 4h Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Neutral
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The Greenback is declining against the Danish Krona after a short lived surge of almost half a month. The surge occurred in the borders of a dominant pattern, which has the form of a descending channel. The currency exchange rate is most likely going to form a new junior pattern, which will guide the pair down to the 23.60% Fibonacci retracement level at the 6.5907 mark. The relevant Fibonacci retracement levels for this pair are measured by connecting the 2016 low and 2017 high levels. Most likely the new pattern will be fully identifiable by the end of this trading week. That is due to the fact that unclear borders of a descent can be observed even without drawing lines.

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