Technicals

Add as a preferred source on Google

FxWirePro: EUR/DKK at 1-week peak, major resistance at 21-EMA

The Danish Krone trimmed losses against the euro after falling to a 1-week low earlier in the session. EUR/DKK is currently trading up at 7.4564, having hit a high of 7.4578 earlier, its highest since August 27. Technica…

1 min read
FxWirePro: EUR/DKK at 1-week peak, major resistance at 21-EMA
Image from the original EconoTimes article

Read the original article

  • The Danish Krone trimmed losses against the euro after falling to a 1-week low earlier in the session. 
     
  • EUR/DKK is currently trading up at 7.4564, having hit a high of 7.4578 earlier, its highest since August 27. 
     
  • Technical indicators on the intraday charts are turning slightly bullish. Stochs are on the verge of rolling over from oversold levels.
     
  • Immediate resistance is located at 7.4587 (21-EMA), close above could take it till 7.4601 (August 16 High).
     
  • On the downside, support is seen at 7.4552, and a break below will take it till 7.4549.  

Recommendation: Good to buy on dips around 7.4560, with stop loss of 7.4552 and target price of 7.4587. 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560