USD/DKK 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The greenback has been steadily losing ground versus the Danish Krone since January 24, as the pair refused to climb above 5.54-mark. On April 4, bulls made an attempt to penetrate the upper trade line, however they were not strong enough, and the pair retreated back under the 200-period SMA. This time, the pair has a potential to at least climb back to 5.4461, as 74% of traders are holding long positions, while aggregate technicals on the 4H chart are sending ‘buy' signals. The only fact that speak in favour of another unsuccessful attempt is the ‘sell' signal from technicals on a weekly chart. The short-term outlook is bullish, as long traders should focus on a weekly PP at 5.4033.
© Dukascopy Bank SA
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