EUR/HKD 1H Chart: Broadening Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/HKD has been balancing between gains and losses for the last three months amid elevated volatility in the market. However, the latest advance to a one-month high of 10.7828 made the pair's trend more distinct, pushing it into the widening downward sloping channel.
Now the currency couple is unremittingly approaching the upper limit of the corridor. The boundary may be reached within a few hours given bullishness among the SWFX players as well as technical signals. Although technical data is neutral for the short and medium terms, it send a clear ‘buy' signals for the long-term.
© Dukascopy Bank SA
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