The Mother of all resistance levels, if we go back 25 years to June 1991, July 1993, July 1997, February 2003, February 2015 and November 2015 the 7.13000 level (area) has never failed except during the 2000/02 crash where the dollar skyrocketed. As the price is now showing signs of consolidating (yellow box) the recent primary trend (blue arrow) is usually...
On 4H, USDDKK oscillates between two main parallel trends since 3th December 2015. PA is currently under the cloud but just bounced on a layer of supporting lines. We may now except an attempt to reach the Kijun with a weakening Danish Krone. If Kijun is broken, PA may attempt to traverse the cloud which would be the first strong sign of a bullish trend.
In case...
Good time to all! The currency pair DKK / USD shows weakness in the past few days this Friday 5-6-2015 reached resistance zone R3 and swarming around an upper limit, reaching a downward channel.
I suggest the possibility of a small rise for now level 6.74200 down to the level of 6.6500 and from there to fall to further down the line.
