CAD/HKD 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
It took more than a week for CAD/HKD to confirm that the recent exit from the 228-bar long ascending triangle was a false breakout. The pair dropped beneath the lower limit in the very beginning of summer but several days later it unexpectedly embarked upon the way back to the pattern's area.
At the moment, the pair still is trading outside the formation, albeit the distance from the lower trend-line is negligent. However, there are some obstacles to be overcome, namely the level of 7.1386/445 (four-hour R1, R2, R3; daily R1; pattern's support) that is capable of preventing the currency couple from re-entering the formation.
© Dukascopy Bank SA
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