USD/DKK Currency Pair Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for USD/DKK
(Updated on Jun 14, 2024)
The USD/DKK currency pair price gained 0.367% on the last trading day (Friday, 14th Jun 2024), rising from kr6.94 to kr6.97. During the last trading day the currency pair fluctuated 0.741% from a day low at kr6.94 to a day high of kr6.99. The price has risen in 6 of the last 10 days and is up by 1.36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 103 thousand shares were bought and sold for approximately kr717.44 thousand.
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect USD/DKK currency pair with a 90% probability to be traded between kr6.83 and kr7.01 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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USDDKK Signals & Forecast
Mostly positive signals in the chart today. The USD/DKK currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr6.92 and kr6.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 1.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). USD/DKK has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The currency pair had a Golden Star Signal on Friday, June 07, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Golden Star 12 Months
The currency pair had a Golden Star Signal on Friday, June 07, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Support, Risk & Stop-loss for USD/DKK currency pair
USD/DKK finds support from accumulated volume at kr6.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the currency pair tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved kr0.0514 between high and low, or 0.741%. For the last week the currency pair has had daily average volatility of 0.459%.
Our recommended stop-loss: kr6.65 (-4.56%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (USDDKK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect USD/DKK to open at kr6.97, and during the day (based on 14 day Average True Range), to move between kr6.94 and kr7.00, which gives a possible trading interval of +/-kr0.0260 (+/-0.37%) up or down from last closing price. If USD/DKK takes out the full calculated possible swing range there will be an estimated 0.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr6.97 (0.02%) than the support at kr6.94 (0.37%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is USD/DKK currency pair A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for USD/DKK currency pair to perform well in the short-term period.
Current score: 2.872 Buy Candidate Unchanged
Predicted Opening Price for USD/DKK of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| kr6.97 ( 0.0167%) | kr6.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USDDKK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.02 | 0.721% |
| R2 | 7.00 | 0.439% |
| R1 | 6.99 | 0.265% |
| Price | 6.97 | |
| S1 | 6.95 | -0.299% |
| S2 | 6.94 | -0.473% |
| S3 | 6.92 | -0.755% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.01 | 0.586% |
| R2 | 7.00 | 0.465% |
| R1 | 6.97 | 0.0202% |
| Price | 6.97 | |
| S1 | 6.94 | -0.366% |
| S2 | 6.90 | -0.93% |
| S3 | 6.88 | -1.25% |
FAQ
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