By Anton Eljwizat
• Below is the weekly chart of the USD/DKK currency pair.
• The technical indicators used are the Slow Stochastic, Relative Strength Index (RSI) and MACD.
• Point1: The RSI signals that the price of this pair currently floats in the over-bought territory, indicating downward pressure.
• Point 2: The Slow Stochastic indicates a bearish cross, signaling that the next move may be in a downward direction.
• Point 3: The MACD indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.
• Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal.
USD/DKK Weekly Chart
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
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.
