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British Pound / Danish Krone

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GBPDKK trade ideas

GBPDKK: Long term Sell opportunity.The pair has come a few points away this week from breaking into the 1M 8.8050 - 8.9550 Resistance Zone, on an extended 1W bullish streak (RSI = 67.077, ADX = 48.241). This level has been holding as a Resistance since November 2016 and rejects the uptrend every time. It is natural to assume that this will happen again especially as the 1W RSI has Double Topped. This time also the 1W MA200 is coming in to apply pressure. Our Target Zone (on the medium term) is 8.4000 - 8.2500, which are symmetrical Support levels. See how well those levels have helped us to call exact long entry and target levels on our last GBPDDK analysis: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
GBPDKK: Sell opportunity for the medium term.The pair has been rising aggressively (1D RSI = 64.189) since early August and the Double Bottom formation on the 8.0000 1M Support. It is approaching the 1W Resistance (8.5000) but the 1D MA200 (orange line) is already applying selling pressure, similarly to what it did on September 2017 after the last rebound on the 1M SUpport. With 1W still neutral (RSI = 52.606, ADX = 43.327, MACD = -0.040, Highs/Lows = 0.08030) we expect this Resistance to hold on the medium term and trade sideways within that and the 8.2570 1D Support. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
GBPDKK: Long term correction ahead. Sell opportunity on 1W.GBPDKK has been trading on a long term 1W Channel Up (RSI = 64.794, MACD = 0.060, Highs/Lows = 0.1840, B/BP = 0.2987) that is close to making a Higher High. According to the monthly Higher High trend line since Sept 2017, the price should pull back towards the median of the Channel. We are therefore shorting with TP = 8.5500. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope