USDDKK trade ideas
USD/DKK predictions based on Price ActionAs you can clearly see in the chart that the pair is on it's major and it is losing it's bullish power and momentum. Price action and technical indicators indicate it's bearish move.
USDDKK Sell Signal (1D Double Top)Pattern: 1D Bullish Channel.
Signal: Bearish after the Double Top rejection on 1D.
Target: 6.55000 (above the Support Zone).
USDDKK 1:10 Risk Reward ShortUSD Short Bias
- Quant score shift of -10 to give a total score of -3
DKK Long bias
- Quant shift of + 16 to give a total of 33
TA
Sell Zone
Congestion
Low Break
USD/DKK 1:4 Risk Reward Short? Long Term OutlookUSD
- Quant Scores shifted against USD by 10 points
- Building permits less than forecast showing a potential slowdown in approved housing
- Supported by a negative result in housing starts which can affect many other factors of growth such as jobs and money supply
- Consumer Confidence heavily lower than forecast suggesting the US consumers are less confident in the outlook, this can mean consumers keep their pockets tight and don't spend as much in the economy
- Manufacturing index suggesting a big slowdown in manufacturing after missing forecast by 2
USDDKK LongWait for Pattern formation on daily upwards support then buy. or be patient and wait for breakout and retest
USDDKK: Double buy opportunity on 1D/1W.The pair is on a strong long term Channel Up on 1W (RSI = 56.469, MACD = 0.047) trading on its Higher Low zone (Highs/Lows = 0.0000). Naturally, 1D is now neutral (RSI = 51.144, Highs/Lows = 0.0000), trading on its own Channel Up Higher Low, pricing a break upwards. The latter gives a buy signal with TP = 6.7000 (Higher High). The 1W Channel Up gives a buy signal if the H/H sequence on the lower resisting trend line (~6.72100) breaks upwards (TP = 6.87400).
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potentialsell using elliott wave formationThere is a potential sell here using elliott wave analysis.....Happy trading all proudly Abbeycity
