Danish Kroner

Good Afternoon Dynamic Traders

I hope you're all having a great trading week. I'm back in the GMT zone after a few lovely weeks away in South America - a slight adjustment with the weather but all in all great to be back! A good time to return as the markets seem to be making some healthy moves.

Below is the Danish Kroner daily chart - we could have a possible reversal situation. The recent long term trend is down, but with the recent bullish action since December we now have a BOB of the all important VI and also the recent high. We could also have a possible bullish flag formation and ST has formed a false bar on top. So we have various confluences to support a long opportunity. The weekly chart also shows convergence.

















The aggressive trader may well be in this trade already. I'm waiting for a breather/retest of VI, to then take advantage of the second leg. We do have R looming at the 54000 level, but there are some potential pips to be taken before then should the opportunity present itself. Of course this could just be a FBO in which case I wouldn't be triggered into this trade. DKK is on my watchlist.

I was also triggered into EURNZD and AUDCHF yesterday and will be managing the trades according to my strategy and rules. So far they are in negative territory, but as we all know that's the nature of trading.

Have a great trading day!
Sonia Molina