• FxWirePro: EUR/DKK at 1-week peak, major resistance at 21-ema

    Source: FxWire Pro - Technicals / 03 Sep 2019 06:32:38   America/New_York

    • The Danish Krone trimmed losses against the euro after falling to a 1-week low earlier in the session. 
       
    • EUR/DKK is currently trading up at 7.4564, having hit a high of 7.4578 earlier, its highest since August 27. 
       
    • Technical indicators on the intraday charts are turning slightly bullish. Stochs are on the verge of rolling over from oversold levels.
       
    • Immediate resistance is located at 7.4587 (21-EMA), close above could take it till 7.4601 (August 16 High).
       
    • On the downside, support is seen at 7.4552, and a break below will take it till 7.4549.  

    Recommendation: Good to buy on dips around 7.4560, with stop loss of 7.4552 and target price of 7.4587. 

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