USD/DKK 1H Chart: Triangle

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 Buy
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The US Dollar is trading in two patterns simultaneously against the Danish Krone. The senior formation is a four-week channel up. In addition, the Greenback has entered a minor consolidation phase, thus forming a descending triangle. 

All indications point to a possible fall in the hourly and daily time-frames, starting from technical indicators and ending with descending triangle being a bearish pattern. Likewise, the rate has already reached the upper channel boundary. 

The rate might still realise a small upside potential up to the 6.26 mark. However, a cluster formed by the 55-, 100– and 200-hour SMAs at 6.25 should provide an unbreakable resistance. The nearest bottom limit is the weekly S1 at 6.1923.

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