USD/DKK 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
As the US Dollar gains strength after Janet Yellen's announcement of a possible increase of the Federal Reserve's rate, the Greenback is trading in a channel up pattern against the Danish Krona. The currency exchange rate is moving in a very thigh range, as the channel is only 200 pips wide, which is not much for this pair. Recently the Buck bounced off the first weekly resistance at 6.6794, and it is set to meet with the pattern's lower trend line at 6.6740 soon, as there are no other support levels around the pattern's support line. However, the line has been already confirmed three times in the past, which indicates at the strength it possesses.
© Dukascopy Bank SA
Back to articles

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.