| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Sell |
| Stochastic (5; 3) | Neutral | Buy | Buy |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The common European currency is appreciating against the Hong Kong Dollar in a short-term ascending channel. The pattern formed in the result of the currency rate's rapid surge in the last week of June. At the moment, the pair has bounced off from the bottom trend-line, which coincides with the 55-period SMA, for the second time. Taking into account the general uptrend, the Euro is expected to soar at least to the monthly R1 at 9.0129. However, if we move the resistance line to another confirmation point, the channel will transform into a rising wedge. In this case, the pair might not even manage to reach the weekly R2 at 8.9967 because of the new pattern's upper trend-line. More specifically, the rate might breakout from the formation at the point located slightly above the weekly R1 at 8.9515.