{"id":10626,"date":"2010-06-29T08:30:00","date_gmt":"2010-06-29T12:30:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10626"},"modified":"2010-06-29T08:30:00","modified_gmt":"2010-06-29T12:30:00","slug":"eurdkk-set-to-drop-following-prolonged-upward-trend","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/29\/eurdkk-set-to-drop-following-prolonged-upward-trend\/","title":{"rendered":"EUR\/DKK Set to Drop Following Prolonged Upward Trend"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; For over a week, the euro has been making consistent gains on its  Danish counterpart. As we will see through a variety of technical  indicators, the pair is set to enter into a bearish trend.<\/p>\n<p>This analysis will be based on the daily  chart for EUR\/DKK, provided by <a href=\"https:\/\/www.forexyard.com\/en\/open-live-account\">ForexYard<\/a>.   The technical indicators we will use to support our theory are the  Bollinger Bands, Stochastic Slow and Relative Strength Index.<\/p>\n<p>1. The pair is currently trading right along the upper Bollinger  Band.  This is usually an indication of imminent downward movement.   Furthermore, a widening of the Bollinger Bands, as seen in the chart,  may be a sign of impending volatility.<\/p>\n<p>2. The Stochastic Slow lines have formed a cross right on the upper  resistance line.  Traders can take this as a signal that a correction is  likely to take place in the near future.<\/p>\n<p>3. Lastly, the RSI is currently seen above the upper resistance line,  indicating that a downward correction will take place.  This further  supports our original theory that the pair is likely to enter a downward  trend.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/scand-pic.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/scand-pic.bmp\" alt=\"\" width=\"595\" height=\"555\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                   Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                   may not be suitable for all investors. There is a        possibility      that     you   could sustain a loss of all of your        investment and      therefore  you     should  not invest money that   you      cannot afford to      lose. You  should  be    aware of  all   the    risks   associated with   Foreign    Exchange  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; For over a week, the euro has been making consistent gains on its Danish counterpart. As we will see through a variety of technical indicators, the pair is set to enter into a bearish trend. This analysis will be based on the daily chart for EUR\/DKK, provided by ForexYard. The technical &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/29\/eurdkk-set-to-drop-following-prolonged-upward-trend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/DKK Set to Drop Following Prolonged Upward Trend&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10626","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10626"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10626\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}