| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
At the end of November, the USD/DKK currency pair reversed south from the upper boundary of the long-term descending channel at 6.7950.
From a theoretical point of view, it is likely that some downside potential could prevail in the market in the medium term, as the exchange rate should target the lower channel line. Important level to look out for is the Fibonacci 0.005 retracement at 6.6843. However, note that the currency pair is supported by the Fibonacci 23.60% retracement at 6.7257. Therefore, the expected decline might not be immediate, and the pair could re-test the upper channel line within the following trading sessions.