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USD/DKK to Continue Range

The USD/DKK gained about 1.4 percent in October. We seem to have a nice momentum move higher right now. But on a long-term perspective the pair remains firmly in a range. We can see on the chart below that the Danish Krone has been in this range since the start of February.
Prices are currently situated right in the middle of that range. Furthermore, the rally has been losing steam, as we can see on the chart below. All of this leads me to believe that we wont see major changes in the USD/DKK ne…
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The USD/DKK to Remain in a Range

The USD/DKK has remained in a range since January, for a total of 8 months now. On January 25th we opened the week at 6.6782 and right now we are trading at 6.6760. This 20 pips difference in this pair is nothing. It's the equivalent to about 4-5 Euro pips.
While ranges don't last forever, there is no reason to bet that this one will end in October. Even during September we've seen the USD/DKK trade mostly unchanged. On September 1st we opened at 6.6472 and we look set to close the month near 6.…
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USD/DKK to Stay Put

The USD/DKK had a wild ride in August. First we fell by 6 percent, then rallied by 4.5%. The chart below demonstrates the madness that was the month of August. But in trading it’s easy to miss the forest for the trees.
Let’s zoom in a bit. The chart below shows the USD/DKK for this year. Notice that since January 20th or so we’ve basically stayed around the current price of 6.65 Euros for one Danish Krone. Sure we moved above this level by a large margin, as well as below it. But ultimately the…
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al_dcdemo avatar

Great analysis, decent accuracy, well done!

Vitalinka_Pavlenko avatar

Great! Wonderfull job!

fxsurprise8 avatar

Things are not looking good for this forecast. The general bout of risk aversion, coupled with strong month and quarter-end flows led to a large USD rally. This in turn pushed the USD/DKK substantially above my 6.6522 target, currently at 6.6920.

AnnaVer1 avatar

Interesting and professional!

Polinaria avatar

Great analysis-)

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No Major Changes for the USD/DKK

The USD/DKK had an uneventful July. We opened the month at 6.6980 and we are currently quoted at 0.7923, barely up 1 percent. The Summer dulldrums kept the pair within a tight range. Rallies near the 6.90 mark we quickly sold off and lows were bought up in the 6.65 / 6.70 area.
But even going further back prices were undecided. The daily chart below shows that this pair has stayed in a range since the middle of March. After reaching a high of 7.1254 that month and a low of 6.5080 back in May, th…
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USD/DKK to Remain Range-Bound

The USD/DKK had a volatile but ultimately range-bound June. Prices bottomed out at 6.52 on June 18th and topped out at 6.84. We closed the month at 6.6927, about 1.5 percent lower. Notice the large swings on the chart below, with no follow-through on either side.First the downmove was repelled, followed by the rally which was stopped at 6.80 few days ago.
I think the currency pair will remain range-bound in July as well. Working for us we have the summer effect as well. This should damped volati…
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USD/DKK to Continue the Momentum Move Lower

After a major USD led rally, the pair reversed in April to closed the month lower by about 4 percent. But since the middle of May this move lower has been cut short with prices again rallying.
Taking into account the massive Dollar rally during the past year, we are overdue for a retracement, especially with the recent patch of weak data in the States. But I think a combo of weak fundamentals and ECB QE will keep the Euro weak as well, this in turn will likely prompt the Danish Central Bank to w…
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USD/DKK Overbought

To say that the USD/DKK is overbought would be an understatement. The currency pair gained 12 percent in 2014 as the Danish Krone got sold along with the Euro. We are trading at 6.1548 at the moment. But a number of technical indicators are signalling that the uptrend may be coming to an end. The Stochastic has moved above the 80 mark on the Daily, the Weekly and even the monthly charts! On the daily we are quoted at 95 (out of 100) on the Stochastic!
Other indicators are also screaming overboug…
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Danish Krone Stabilizes

The USD/DKK has been in a massive uptrend since May of this year. Prices advanced from a low of 5.33 to a high of over 6 Danish Krones for one US dollar.
On a lower timeframe chart however, we can see that the gains have stalled in November. After a rally took USD/DKK to a high of 6.0188 on November 7th, the Krone managed to claw back some ground. Sine then prices have been stuck in a range between a low of 5.90 and a high of 6.02 (approximately) . We are currently quoted at 5.9734, right in the…
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