USD/DKK 1H Chart: Target gets reached

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

The target set of the USD/DKK currency exchange rate's decline was reached shortly after the publication of the currency pairs review on Friday. The reason for that was the release of the weaker than expected US labor market data, which revealed that the US labor market is not growing as much as expected. 

During the fall not only the lower trend line of the medium pattern was reached, but it was passed on Monday morning. Due to that reason an update of the situation is created. 

The rate is expected to continue the decline until the rate reaches the support level near the 6.2860 mark.

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