EUR/HKD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
While fluctuating between two downward-sloping lines, the pair dropped from 10.4006, a peak reached on August 23 that provoked a dive under 200-hour SMA, to the mark of 10.2171, near which the currency couple is trading now. Such factors as trading in the bearish pattern and expectations of a further decline (100% of market players bet on the depreciation of the pair) are signalling that a tumble is almost inevitable. A downward move is likely to start from a cross of four-hour support at 10.2111 and 20-bar SMA at 10.2071 that is expected to give the pair an impulse for breaking through daily S1 at 10.1799 and daily S2 at 10.1387.
© Dukascopy Bank SA
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