EUR/HKD 1D Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The common European currency continues to trade against the Hong Kong Dollar in the long-term ascending channel, which has not yet showed any signs of weakness. During last week, the pair has been fluctuating between the upper trend-line around 8.5079 and the weekly Pivot Point at 8.4717, trying to resume its downward movement to the 200-day SMA located at the 8.4106 level. It is most likely that the rate will remain above the support line next week as well, amid markets' reaction to the second round of French Presidential election, which will take place on May 7.

  Level  Rationale     Indicator 4H 1D 1W
R4 8.5958 Monthly R1     MACD (12; 26; 9) Buy Buy Buy
R3 8.5781/96 Upper Bollinger Band; Weekly R2     RSI (14) Neutral Neutral Neutral
R2 8.5287 Weekly R1     Stochastic (5; 3; 3) Neutral Sell Sell
R1 8.5190 Channel Upper-trend line     ADX (14) Neutral Neutral Neutral
S1 8.4717 Weekly PP     CCI (14) Buy Neutral Sell
S2 8.4208 Weekly S1     AROON (14) Buy Buy Buy
S3 8.4090/46 200-day SMA; Monthly PP     Alligator (13; 8; 5) Neutral Buy Neutral
S4 8.3719 Bottom Bollinger Band     SAR (0.02; 0.2) Sell Buy Buy
          Aggregate ↗ ↗ →
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Thu, 04 May 2017 11:18:02 GMT

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