CHART SCALE: Weekly


INDICATORS: Parabolic Sar, Money Flow Index, Linear Regression Slope


RESISTANCE LEVELS: 8.97


SUPPORT LEVELS : 8.3


PAIR ANALYSIS :


The EUR/HKD pair is in a slightly bullish tendency after the retracement at the resistance line as indicated in fig 1. The chart indicates the possibility of a zone of indecision around the two lines at 8.97 and 8.3 as indicated in FIG 1.
The parabolic sar analysis seems support the trendless positions with few corrections along the area. With the crossing of the bearish line at the key level price at 8.1 the pair can shows a bearish domination with the possible formation of a new bearish channel.
The Linear Regression Slope at 0.03 and the MFI support the slightly bullish analysis . A bullish crossing of the resistance line at 8.98 can validate a significant bullish domination.
It can be evaluated a forecast level price at 8.57557 considering the possibility of a bearish secondary retracement.
Good trading to the Dukascopy Community.
FIGURE 1 shows the trendline



FIGURE 2 indicates the forecasting pattern

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