EUR/HKD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The single currency has been following a downside trend against the Hong Kong Dollar since mid-January. Whilst retreating, the pair did not manage to surpass the upper limit of the 640-pips wide corridor nor it was willing to dive below the lower limit of the channel down pattern.
At the moment, the currency pair is trading below its 50-hour SMA, albeit slightly. In the hours to come, EUR/HKD may come under selling pressure as suggested by technical indicators that are sending "sell" signals.
© Dukascopy Bank SA
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