Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Sell | Sell |
RSI (14) | Neutral | Neutral | Buy |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Buy | Sell | Sell |
SAR (0.02; 0.2) | Sell | Sell | Sell |
Aggregate | ⇒ | ⇓ | ⇘ |
The US Dollar is trading in two patterns simultaneously against the Danish Krone. The senior formation is a four-week channel up. In addition, the Greenback has entered a minor consolidation phase, thus forming a descending triangle.
All indications point to a possible fall in the hourly and daily time-frames, starting from technical indicators and ending with descending triangle being a bearish pattern. Likewise, the rate has already reached the upper channel boundary.
The rate might still realise a small upside potential up to the 6.26 mark. However, a cluster formed by the 55-, 100– and 200-hour SMAs at 6.25 should provide an unbreakable resistance. The nearest bottom limit is the weekly S1 at 6.1923.