INDICATORS: RSI, Volatility, Volume, HMM
KEY PRICE LEVELS : 8.60907 8.67297 8.9997
Weekly CHART PATTERN : resistance and support lines, W1 Chart.
Weekly VISION
The pair USD/DKK is moving in a bullish dynamics with a resistance zone at 8.9997. The indicator analysis indicates a slightly bullish dynamics and it can be supported by the Hidden Markov Models Analysis and the RSI momentum indicator. Standard Dev is relatively adeguate with a slightly bullish tendency. The chart can suggest a bearish retracement at the resistance zone.
Daily VISION
The D1 scale indicates that the patttern is in a bearish channel dynamics. The trend can lead to a possible retracement with support at 8.67297. The USD gain can be supported by the NFP release. The Hidden Markov Models Analysis and the RSI are coherent with a slightly bearish regime.
FORECAST EVALUATION
To give an evaluation of the possible movements of the cross it is utilized the Hidden Markov indicator techniques.
With the combination of the price lines and the stochastic Hidden Markov Processes are indicated two possible forecast value.
- The forecast value in the bullish is valued at 8.9997.
- The forecast with the bearish cycle is valued at 8.67297.
Figure 2 exhibits the hypothetical path and the forecast value
FORECAST
Considering the slope of the trends, the key level price and the possible retracement it can be evaluated a forecast price level at 8.67297.