USD/DKK 1H Chart: Bulls likely to prevail

Source: Dukascopy Bank SA

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

The US Dollar is appreciating against the Danish Krone in a short term ascending channel. This gradual increase in price began when the rate reversed from the 6.3600 mark.  

Currently, the rate is being supported by the 55– and 100-hour SMAs on the 1H time-frame. It is expected that the rate eventually gathers the necessary momentum to breach the junior channel. 

However, it should be taken into account that the pair is pressured by the 200-hour SMA at 6.4137 and this advance might not be immediate. 

 An important level to look out for is the monthly R1 at 6.4353.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.