{"id":12293,"date":"2010-08-23T09:15:14","date_gmt":"2010-08-23T13:15:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12293"},"modified":"2010-08-23T09:15:14","modified_gmt":"2010-08-23T13:15:14","slug":"usddkk-may-finally-be-set-for-a-downward-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/23\/usddkk-may-finally-be-set-for-a-downward-correction\/","title":{"rendered":"USD\/DKK May Finally Be Set For a Downward Correction"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; The U.S. dollar has steadily been making gains against the Danish krone  since the first week of August.  In the last 3 weeks or so, the pair has  gone up around 2600 pips.  As we will illustrate through a number of  technical indicators, the USD\/DKK pair may finally be set for a bearish  correction.<br \/>\nWe will be looking at the 8-hour chart for USD\/DKK, provided by Forexyard.  The technical indicators used are the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index (RSI)<\/a>, Williams Percent Range and <a href=\"http:\/\/www.forexyard.com\/en\/moving-average-convergence-divergence-macd\">MACD\/OsMA<\/a>.<br \/>\n1.\tAs we can be seen, the RSI is currently right around the 70 level,  which typically indicates the pair is right on the edge of entering into  overbought territory.  Traders can take this as a sign that a bearish  correction could occur in the near future.<br \/>\n2.\tFurther supporting our theory, the Williams Percent Range is  currently right at the -20 level.  Anything above the -20 level is  generally taken as a sign that the pair is in the overbought region,  meaning downward movement is likely to occur.<br \/>\n3.\tFinally, in a clear sign of impending downward movement, the  MACD\/OsMA shows a cross has already formed well above any resistance  levels.  Analysts take this as a sign that the krone may finally be set  to make some serious gains on its U.S. counterpart.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/scand-23.8.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/scand-23.8.bmp\" alt=\"\" width=\"567\" height=\"555\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/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; The U.S. dollar has steadily been making gains against the Danish krone since the first week of August. In the last 3 weeks or so, the pair has gone up around 2600 pips. As we will illustrate through a number of technical indicators, the USD\/DKK pair may finally be set for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/23\/usddkk-may-finally-be-set-for-a-downward-correction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/DKK May Finally Be Set For a Downward Correction&#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-12293","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12293","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=12293"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12293\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}