EUR/HKD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following short term weakness of the Euro versus the Hong Kong Dollar, this currency pair is starting to regain its bullish momentum, paving the way towards the upper boundary of the channel up pattern. It is worth pointing out that the majority of weekly and monthly technical levels are located outside the pattern's trend-lines, meaning that all moves of the Euro can be well-pronounced and confident. The closest resistance is located at 8.826 (weekly R1), which is instantly followed by the pattern's resistance line at 8.849. Despite positive (66%) SWFX sentiment, weekly technicals are bearish, meaning that a bounce back in the long run is not off the table.
© Dukascopy Bank SA
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