USD/DKK 1H Chart: Bulls likely to prevail - Trade Pattern Ideas - Dukascopy Bank

Wed, 10 Oct 2018 12:00:54 GMT
Source: Dukascopy Bank SA
 

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

The US Dollar has been appreciating against the Danish Krone after the currency pair reversed from the lower boundary of a long-term ascending channel at 6.3295.  

Currently, the exchange rate is trading in a short-term ascending channel as well. It is expected that the pair will breach the junior trend and will aim for the upper boundary of the senior channel located circa 6.6100. An important level to look out for is the 2018 high at 6.5719. 

It is the unlikely case that some bearish pressure still prevails in the market, the US Dollar should not exceed the 100– and 200-period SMAs (4H), currently located at 6.4152.


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