EUR/HKD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a decline that started at the beginning of May the pair reversed some of the losses in June. Although, at the moment EUR/HKD is in the down-trend again. For the last week the pair is hovering near the upper line around 10.38 and that could encourage the bullish traders. Near the upper channel line there is also the daily R1 and 55-day SMA at 10.3869/95, these levels will help the resistance line to hold its positions. Moreover, the technical studies point downwards, strengthening the case that the down-trend will continue. The pair's sentiment is strongly bearish, with 73.17% expecting the pair to depreciate.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.