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Monday, July 29, 2013 9:46:50 AM
USD/DKK Weekly Chart
Don't have an actual wave count here Qui...just standard trend line analysis.
Strong resistance in the 6.11 to 6.12 area. If we do manage to break that eventually, the next target would be the upper trend line in the longer term parallel channel that's forming.
On a side note though, the whole thing is beginning to take the shape of a bullish inverted head and shoulders pattern with that first trend line forming the neckline. If we break and hold above that, USD DKK is gonna take off like a rocket and EU is going to collapse as a result.
Don't have an actual wave count here Qui...just standard trend line analysis.
Strong resistance in the 6.11 to 6.12 area. If we do manage to break that eventually, the next target would be the upper trend line in the longer term parallel channel that's forming.
On a side note though, the whole thing is beginning to take the shape of a bullish inverted head and shoulders pattern with that first trend line forming the neckline. If we break and hold above that, USD DKK is gonna take off like a rocket and EU is going to collapse as a result.
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