The USDDKK pair is consolidating after it started a new Bullish Leg following the 1D Golden Cross formation. The long-term pattern is also a Channel Up and the current Bullish Leg appears to be proportional to the one that started on the July 18 2023 Low. As you can see it is where the 1D RSI bottomed on both cases.
As a result we have no reason not to expect a...
SLO2 @ 7.1123 ⏳
SLO1 @ 7.0592 ⏳
TP5 @ 7.0450
TP4 @ 7.0000
TP3 @ 6.9355 💰
TP2 @ 6.8733 💰
TP1 @ 6.7830 💰
BLO1 @ 6.6910 📈
BLO2 @ 6.6345 ⏳
🤑 If this uptrend continues to hold then we have some nice money to make AGAIN
(Based on the 18H Chart)
🔥 GET READY 🔥 GET READY 🔥 GET READY 🔥 GET READY 🔥
TP5 @ 6.9415
TP4 @ 6.9300
TP3 @ 6.8915
TP2 @ 6.8720
TP1 @ 6.8433
BLO1 @ 6.8150 ⏳
BLO2 @ 6.7975 ⏳
ADDITIONAL INFO:
📉 There is the probability of Price Action tanking from a mid pivot Resistance Level @ 6.8720
📈 If so, it could be a hard push back to the downside
📉 This is a drop of...
Analysis of new financial markets
By zts method
Analysis based on Fibonacci and Smart Money patterns
Our general trend in 1 hour and 4 hours time is up
Because our downward trend is broken with the last wave, we expect correction to the first range of 6.8228 and 6.7553. I will enter into a buy transaction in the second range, or the loss limit is 6.6877 and the...
We got a excellent sell entry last time we looked at the USDDKK pair (October 04 2023, see chart below), as we got the long-term market top:
At the moment the pair is ranging within the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) while testing today the Lower Highs trend-line. That is the trend-line of the Bearish Leg that started after the...
Reasons
Potential Wave 3 commencing of larger scale wave 5, therefore its subwave 1 of the wave 3 within that final wave 5.
DXY showing strength
Inverse head and shoulders set up
At a Daily support area
Stop 6.60
Overall take profit 8.70
So in this video I demonstrating how a fundamental X Technical analysis algorithm Markup Downtrend Breakout of the dollar effecting the USD Exotic Currency pairs USD Base Example: USDSEK, USDDKK,USDJPY, XAUUSD,XAGUSD.
Joshua Williams
USDDKK is forming a Channel Down pattern after getting rejected on the HH trendline of the top of the long term Megaphone. This was enough to turn the 1D timeframe neutral (RSI = 51.567, MACD = 0.023, ADX = 24.458). This High is consistent with the two peak formations prior to that and the common characteristic is that all (including the current) have formed LH...
YOY inflation for Denmark released at 0.90%!
What does this mean for the DKK... A possible rate cut. In other words, the potential end of the DDK selling.
its
We may now see USDDKK end its current uptrend. Price could become indecisive or even move off key resistance at 7.1000.
I can't wait to see what happens!
The USDDKK has been rising almost non-stop since mid-July and last week completed a Golden Cross on the 1D time-frame. On a 7-year span, every 1D Golden Cross pattern extended a long-term uptrend that was already underway. On the last 2 occasions in particular, the uptrend that started has been extremely strong but when the 1W RSI came close to the 70.00...
