USD/HKD 4H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/HKD will be highly volatile. Therefore, even despite the fact this is not one of the major currency pairs, traders will have a great opportunity to open positions as soon as the price penetrates either higher or lower pattern's boundary. Statistically, descending triangles are penetrated to the downside in 64% of the time. Moreover, technical indicators on a 4H and daily charts are sending ‘sell' signals. Traders should careful, as indicators on a weekly chart are pointing at pair's long-term appreciation. Therefore, the penetration of the support line can be only temporary and the price can move back into pattern's boundaries.
© Dukascopy Bank SA
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Tue, 29 Apr 2014 14:01:02 GMT

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