USD/DKK Trading forecasts and signals - page 3

USD/DKK is an exotic Scandinavian currency pair with the Danish krona. It's not that it was quite uncommon, but the total volume of transactions in comparison with the most popular pairs is simply negligible.USD/DKK forecast for today onlineWith a high level of volatility, which takes place for this currency pair, making forecasts for timeframes less than H1 is ineffective. It is most profitable to trade the Danish crown on medium and long-term charts, especially since with the right strategy, profits can reach from 70 to 300% of the deposit per month.USD DKK exchange rate chart with online indicatorsThe USD/DKK currency pair has a rich and interesting history of trading on the foreign exchange market. If we analyze the long-term chart, it becomes clear that the dynamics and behavior of the pair change greatly in different periods of time.Read more: USD/JPY: chart, forecast for today, currency pair overviewGeneral characteristics of the currency pairHigh volatility, small volumes of transactions – this is how the US Dollar / Danish Krone pair can be characterized.This is an exotic Forex instrument, popular mainly among local Scandinavian traders from Denmark, acquired by international companies associated with this country, as well as desperate investors hoping to quickly earn extra money on the sharp movements of the pair.The US dollar acts as the base currency and is purchased for the Danish krona, which is the quoted currency.The pair's quote is straight, which is clear from the location of the US dollar ticker on the left side. The price output on most charts is standard: four digits after the separator (6.9983) or 5 in terminals such as MetaTrader 5.The US dollar and the Danish Kroner, despite the fact that USD/DKK does not reach the rand, peso or ruble in terms of volatility, but on average 500-700 points per day is also no joke, and sometimes this value can exceed even 1000 pips per day.According to the results of the last 20 weeks of trading, the most active day is Wednesday, which is just a little short of Thursday, and Tuesday and Friday are the calmest during the week. Inside the day, the currency pair moves most actively during the European and American trading sessions, and especially during the period when they intersect with each other.What does the USD DKK rate depend on and the factors influencing the quotesThings are not so good in the Danish economy at the moment: the migration crisis, a slowdown in growth rates, low competitiveness of products due to high wages and the exchange rate of the crown - all this, provided the US economy strengthens, can lead to the beginning of growth of the Dollar/Crowns are coming soon.Today, the United States still remains an economic and political leader, unintentionally inferior to no one. The structure of the American economy by sector at the moment looks like this:79.6% of income comes from services and trade, which are very well developed in the US;The industry in second place provides 19.2% of GDP;about 1.2% is accounted for by agriculture.Read more: USD/SGD: exchange rate online, signals and forecast for todayUSD DKK analytics The company is part of the EU, but still retains its currency and does not plan to abandon it yet, but only restricts the circulation of cash. If we consider the Danish economy by sector, then the following picture comes out:approximately 71% of GDP is accounted for by services and trade;about 26% is occupied by industry (pharmaceutical, food, light, chemical, etc.);agriculture gives the country no more than 3% of GDP.Despite the fact that Denmark is poor in minerals and occupies a small territory with not the most favorable climatic conditions, the country has a highly developed economy and a high standard of living, large funds are invested in high technology and medicine.The main fundamental factors on which the price of the US Dollar/Danish Krone pair depends are:economic indicators of the USA and the Eurozone;economic indicators of Denmark, trade balance, business activity, labor market situation;statements by the heads of the Fed and the Central Bank of the EU;oil prices;political events involving the United States, the EU and specifically Denmark.Read more: GBP/USD exchange rate (Online Chart), forecast for todayDanish Krona Good analytics should always be backed up by the maximum amount of useful data from any area if they have a significant impact on the asset price. In addition to fundamental and technical analysis directly on the pair itself, information on correlation with other financial instruments can be very useful for finding entry points into the market.The analysis shows that USD/DKK currently has the greatest correspondence on the D1 timeframe with the Czech and Swedish krona charts – 99% and 95.3%, respectively, as well as with USD/CHF – 93.4% and Dollar/Forint - 92.5%. The strongest inverse correlation is present with the Euro / Dollar – almost -100% and the New Zealander against the Dollar – -84. 5%. When composing analytics, it is worth remembering that the correspondence is never the same throughout time and periodically, depending on certain reasons, it weakens, then increases.Features of USD/DKK currency pairThis pair is not recommended for inexperienced traders due to strong volatility, high spreads up to 40 points and unpredictability on short timeframes.Interest in the Danish currency is associated with its high correlation with the euro. Despite the fact that Denmark is a member of the European Union, it was decided to leave its national currency and not switch to the euro. Nevertheless, the movement of the Danish krona is highly dependent on the general direction of the EU exchange rate. The exchange rate of the Danish krona is mainly influenced by events in the Eurozone and prices for agricultural products on world markets. However, an active movement can also be observed when the dollar exchange rate changes.Read more: GBP/CHF: online signals, forecasts for today, analysis & featuresDollar fluctuations depend most of all on the macroeconomic indicators of the US economy, which are published by the Ministry of Commerce of the country. Consequently, on the basis of official American statistical data, it is possible to make forecasts of the value of the US dollar for a given ...