EUR/HKD 30M Chart: Channel down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The upper-trend-line of a symmetrical triangle has been broken by the EUR/HKD currency pair, implying the continuation of a bullish trend towards the 4 hour channel top trend-line. The rate lies currently at 8.7620, a level attained just moments ago after experiencing a significant hike upon the GfK German Consumer Climate data announcement - an unusual reaction to data entirely in line with expectations. The reaction was stalled by the weekly R1 at 8.7670 and a bounce from the 200-period SMA at 8.7597 or the top triangle trend-line can be expected ahead of a rally towards the channel top trend-line at 8.7701. In the weekly time-frame, however, a rising wedge has formed a significant support level at 8.7499, which suggests that the pair will not respect the channel lines after the top trend-line is reached, and is likely to break the bearish trend over the next week. 4 hour and hourly aggregate technical indicators send mixed signals about the future developments of the trend.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 26 Aug 2016 11:53:03 GMT

EUR/CHF 1H Chart: Channel Up

The Euro has formed an utmost interesting pattern against the Swiss Franc, as it is at the same moment in the middle of two of them and they both confirm the same way for the currency exchange rate to go. What you can see in the added chart is the ascending channel pattern, which at the same time is in

Fri, 26 Aug 2016 06:35:10 GMT

USD/CHF 4H Chart: Rising Wedge

USD/CHF has been moving within an ascending wedge pattern since August 18, and is currently on its way down to the bottom trend-line at 0.9670. The pair reached two-month lows on August 17, dipping to the 0.9538 mark; and as the pattern implies a trend reversal, it could be testing the same level over the upcoming weeks. In case the

Subscribe to "Fundamental Analysis" feed

Souscrire
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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.