CAD/HKD 4H Chart: Channel Up

Comment: Pair has just recently consolidated above the 200-day SMA. Short term technicals are pointing at further appreciation of the pair but the pair seems to be stalling. It might be that 30th of September high has some psychological effects on the pair and could cause a sell off of the pair signalled by the medium term technicals. However, as Stochastic indicator in none of the horizons  give sell signal, we do not put much weight on the probability of such scenario. Long term technicals point at further appreciation of the pair, but we cannot neglect the fact that quite a few indicators give individual neutral outlook. All in all, we could see some neutrality like on the second half of September.