EUR/HKD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
While December came with an ultimate low for EUR/HKD at 8.0692, the pair managed to recover in the last couple of months and has now entered an ascending channel pattern to lead it even higher. Bullish pressures additionally stem from the various time-frame SMAs that lie below. The pair is now climbing towards the upper trend-line of the pattern and could reach it somewhere around 8.4718 with a few obstacles, namely 8.3835, 8.4049, 8.4397 and 8.4504 on the way. The most recent low lies at 8.2479 and is likely to cut any reversal that would go as low.
© Dukascopy Bank SA
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Thu, 02 Feb 2017 12:01:38 GMT

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