Thu, 16 Oct 2014 07:49:01 GMT
USD/HKD 1H Chart: Double Bottom
At the very end of September USD/HKD reached this year's high at 7.7702; however, it did not manage to consolidate at this level. Therefore, the pair started to fall in value and by doing that it also formed a double bottom pattern.
Currently, the pair is moving towards the major level at 7.76, which is also complemented by the pattern's resistance