| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
The US Dollar has been appreciating against the Danish Krone since the beginning of July within the rising wedge pattern. Currently, the USD/DKK currency pair is testing the upper pattern line at 6.8600.
From a theoretical point of view, it is likely that a reversal south could occur in the nearest future, as the exchange rate should target the lower wedge line located in the 6.7600/6.7900 range. If the given pattern holds, it is likely that the general direction is expected to remain north.
However, note that the currency pair is supported by the 55-, 100– and 200-hour moving averages, currently located in the 6.8047/6.8393 area. Thus, if the given pattern does not hold, a breakout south could occur, and some upside potential could prevail. In this case the pair has to surpass the monthly R2 at 6.8904.