EUR/HKD 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since November 21, EUR/HKD has been climbing and on November 24, the pair started to form the ascending triangle pattern that lasted for 83 hours. The currency couple breached the upper limit of the pattern after it approached the apex one hour ago that is likely to result in an accelerating appreciation. To confirm this, EUR/HKD has to test the resistance at 10.5647 (daily R1) and then target the next resistance zone at 10.5829 (daily R2) that will bring into the picture the level of 10.6072 (daily R3) that is the last defense from a sharp increase.
© Dukascopy Bank SA
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