| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The Euro has been appreciating against the Honk Kong Dollar since the end of June. This movement has been bounded in the falling wedge pattern.
Currently, the EUR/HKD exchange rate is testing the lower pattern line located at 8.6930. From a theoretical point of view, it is expected, that a reversal north should occur in the nearest future, as the rate should target the upper wedge line located in the 8.7600/8.7800 range.
However, note, that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, currently located in the 8.7120/8.7608 range. Thus. If the given pattern does not hold, it is likely, that the pair could target the lower boundary of the long-term descending channel located circa 8.6500.