USDDKK Short Trade. Price testing resistancePrice is testing resistance on the USDDKK pair. Here on the 4 hour chart we see price testing a daily resistance level. On the 4 hour an inverted hammer was printed and on the 1 chart we see many small indecision candles showing buyers losing momentum so let's see if sellers take control.
USDDKK trade ideas
USDDKK: Buy opportunity on the 1M Channel Up.The price is testing again the 1D MA50 (blue line) following a rebound on the Higher Low of the 1M Channel Up (RSI = 54.950, MACD = 0.046, ADX = 37.670, Highs/Lows = 0.0000) it has been trading on since mid 2018.
The MACD and RSI on the 1D chart are both waving the same bull flags they did when the price reached previous Higher Lows on the Channel. We treat this as a strong medium term buy opportunity with TP = 6.8000 and 6.8500.
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Retracement on MA50 in overall daily bearish trendDISCLAIMER and RISK WARNING: Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them. Don't trade with money you can't afford to lose. The contents and information provided here are for information purposes only, and are neither a solicitation nor an offer to buy or sell forex, cryptocurrencies, futures , commodities or stocks.
USDDKK LONG. Rejecting Daily Support LevelThe USDDKK chart is now at support and testing it on the Daily chart. This level also happens to be a 50 FIB level as well. Going down to the 1 hour chart we see a bullish pin bar formed at this level. I will be going long and I will be targeting previous resistance as my take profit.