USD/DKK 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellBuySell
Aggregate

Since the end of October, the USD/DKK currency pair has been trading within a rising wedge pattern.  

It is likely that the exchange rate could decline within the predetermined pattern until the end of 2020. Then, a breakout north could follow and the rate could target the Fibo 61.80% at 6.3495. 

Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 6.1450/6.2570 range. Thus, some downside potential could continue to prevail in the market.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
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.