Re-Testing strong resistance on the USD/DKK.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 continued. It would be a high probability trade to go short at the Resistance level.
USDDKK trade ideas
USDDKK - Long trade idea for next weekOn 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 of cloud traversal, the main trigger will be the level 6.906 which in case of a break by the lagging span (and bullish Ichimoku signals) would open the doors for a long trade.
New Harmonic Pattern for USDDKK Bearish White SwanGood 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.