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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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Small Gains for the Danish Krone

The Danish Krone has been on a tear. The USD/DKK pair closed lower by over 6 percent in April. After reaching a high of over 7 dollars for one Krone, prices fell to 6.6250 today.
But while I think the downtrend has more room to go, the losses may moderate going forward. The daily stochastic is quoting a massively quoting oversold level of 11.80. A reading below 20 indicates oversold conditions.
But trends can persists for a long time after an oversold signal is issued. Thus I'm betting on more l…
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Mixed Results Today

I had mixed results today. I won some pips on the long side, then lost more on the short side, the switched again and won 12 pips on a short. It's hard to trade this market. When prices fall, they go down by 50 pips....then they rally by 40 pips before going down some more.
The proper way to trade this would be to short and just HOLD. But at current prices of 1.0550 this doesn't seem a good idea. Although to be fair I thought the Euro was oversold at 1.09. Keep your stops tight and good luck! It…
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Gain of 100 Percent, Staying Long

As readers of this blog are aware, I have been hyping up the 1.1365 mark in the Euro as a breakout point. Well after several days of trading just below the mark, yesterday Europe's single currency blew past it and rallied over 150 pips. This propelled me to a gain of over 100 percent on my account. I am now around the 50 spot in the Trader's contest.
I think the move has more room to go so am staying long on the Euro but I have just tightened my stop loss and I will likely do so again ahead of F…
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Still Waiting for that Break

Still waiting for a break of the 1.1365 mark in the Euro. Prices continue to get sold whenever they get near the level. Yesterday we peaked at 1.1360 before falling back down. I think a break above here could extend the gains for Europe's single currency. On the news front, there is nothing important from either the Eurozone or US. This should leave the path open for technicals to do their thing.
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fxsurprise8 avatar

ka-ching!

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