EUR/HKD 1H Chart: Broadening Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After hitting the upper edge of the broadening falling wedge pattern on Friday, the EUR/HKD currency pair is poised for further losses in the foreseeable future. Currently, the weekly PP attempts to hold bears from pushing the common European currency to the downside. Still, in case the pair succeeds in falling below the mentioned support line, the next target for short traders will become the weekly S1 at 8.4311. Daily technical indicators are pointing downwards at the moment, meaning that we can expect the Euro to depreciate in the next 24 hours. Moreover, the vast majority of SWFX market participants, namely 71% of them, are holding short open positions on this currency pair.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 01 Jun 2015 14:01:15 GMT

AUD/SGD 4H Chart: Channel Down

In the night between May 13 and May 14, AUD/SGD reached its monthly high, where the starting point of the current bearish channel takes place. Since then, the cross has already lost around five figures. However, the Australian Dollar is currently trading sideways against its Singaporean counterpart. This fact, however, makes it inevitable for the pair to reach the upper

Mon, 01 Jun 2015 09:45:06 GMT

EUR/SGD 1D Chart: Broadening Falling Wedge

EUR/SGD entered the broadening falling wedge pattern in the beginning of this year, while a decline of the pair started a month before in December. At the moment the Euro is hovering around the 55-day SMA at 1.4741. A violation of this important support would imply further losses for the single currency. The medium-term target remains at 8-year low of

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.