USD/HKD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
High volatility of USD/HKD prevented the pair from developing a clear trend until recently. In mid-December, the currency couple commenced a long upward move that helped it to form the rising wedge pattern that now is 225-bar long. Now the pair is performing a sharp climb that resulted from a recent drop to the 50-hour SMA sitting close to the lower boundary of the pattern. Considering bullishness of the market players, the pair is likely to extend its gains in the nearest term.
© Dukascopy Bank SA
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