USD/HKD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Cross of the US and the Hong Kong dollars has a rather volatile nature, but once in a while we can spot patterns with decent characteristics. It is no surprise that pattern's quality is just slightly above the average in this case, however, it's magnitude rating suggests a strong possibility to trade on volatility and momentum.  For the past week or so pair has ben moving along the pattern's resistance while maintaining just slightly bearish stance. Short term technicals point at continuation of such trend, however, medium and long term technicals suggest that we should see a legitimate rebound from the pattern's resistance.

© Dukascopy Bank SA
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Wed, 07 Aug 2013 14:09:58 GMT

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