USD/DKK 1D Chart: Channel Down

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

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

The American Dollar is losing value against the Danish Krone in a medium-term descending channel. Formation of the channel began after the currency pair broke the support line of the preceding long-term descending channel. By this moment, the rate has made two confirmations from the top and only one from the bottom. Therefore, the slip to the bottom boundary of the pattern is expected to follow. However, the first days of July showed that the pair made a premature rebound. If the next two-three days will attest this new direction, it would be possible to consider falling wedge, as a new guiding pattern. In contrast, if the freefall continues, the subsequent rebound near the combined support level set up by the monthly and weekly S1 should follow.

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