USDDKK Strong mid-term buy signal.

26 Jan

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 October 04 Lower High of the long-term Channel Up pattern.

If the price action closes a 1D candle above the 1D MA200, we will take it as a bullish break-out signal and target Resistance 2 at 7.13900.


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