USD/HKD 4h Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The US Dollar is surging against the Hong Kong Dollar simultaneously in two ascending channel patterns. The surge occurs through the Fibonacci retracement levels, which are measured by connecting the 2016 high and low levels of the early year, when the massive surge and subsequent drop of the pair occurred. Most recently the pair rebounded against the support of a dominant channel and formed a short term channel. The short term junior pattern has managed to pressure the pair into breaking the resistance of the 38.20% Fibonacci retracement level at the 0.7995 level. That means that a continuation of the surge of the Buck against the Hong Kong Dollar is set to occur.

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