EUR/HKD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The common European currency is trading in a descending channel against the Hong Kong Dollar. However, the medium term descending channel is about to become obsolete, as on a larger scale the currency exchange rate trades in an ascending channel pattern. The rate has already reached the lower trend line of the dominant channel. Mainly due to this fact a surge is expected from the pair. However, there are additional factors, which suggest an upcoming surge. Recently the currency pair reached above a strong support cluster, which is made up mainly of the 200-period SMA at 8.2516 and the 23.60% Fibonacci retracement level at 8.2553.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
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.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
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.