USD/HKD 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Having touched a one-year low, the U.S. Dollar got an impulse to advance against its Hong Kong peer. The appreciation started alongside with formation of the ascending triangle pattern on November 8. At the moment of writing, the pair was fluctuating close to the apex of the triangle that signals on the looming breakout. Ascending triangle patterns usually result in bullish breakout and this time is not likely to be an exception, with 66.67% of all orders being placed to buy the instrument. Technical indicators also suggest a climb in the short-term but are neutral for medium and long terms.
© Dukascopy Bank SA
© Dukascopy Bank SA
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Thu, 14 Nov 2013 12:48:22 GMT

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