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nivelij01

Greenback is getting some strength against danish krone

Long
U.S. Dollar / Danish Krone (OANDA:USDDKK)  
nivelij01  
OANDA:USDDKK   U.S. Dollar / Danish Krone
Support and Resistance Fibonacci Oscillators Fibonacci Retracement Fibonacci Extension USDDKK Bullish Patterns reversal rsi_divergence rsi_oversold
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supportandresistance fibonacci oscillator fibonacciretracement fibonacciextension usddkk bullish reversal rsi_divergence rsi_oversold
I see an initial sign of dollar getting some strength. As you can see here from weekly chart of USDDKK, a RSI divergence is now observed, indicating the bull is about to take control. And if you pull the Fibonacci extension tool, current price is testing the 0.382 support line, which seems to be a short term resistance observed on week of 8th December 2014. If the retracement indeed happened, I would target the profit to be somewhere around 6.2 level, which was the previous resistance line.

Trade with care and only enter the trade when you see a clear signal.
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