USD/HKD 1D Chart: Set for new heights
All signs on the USD/HKD chart indicate that the pair is set to clearly continue the long term surge of 2017.
Although for the last half a year there was a retracement happening, the pair has touched the lower trend line of the 2017 up pattern and formed a junior channel up pattern, which has been guiding the currency exchange rate higher for the past months. In addition a short term pattern can be seen on the smaller time frames.
However, the currency exchange rate will still need to pass the upper trend line of the still active medium sized channel down pattern.
Although for the last half a year there was a retracement happening, the pair has touched the lower trend line of the 2017 up pattern and formed a junior channel up pattern, which has been guiding the currency exchange rate higher for the past months. In addition a short term pattern can be seen on the smaller time frames.
However, the currency exchange rate will still need to pass the upper trend line of the still active medium sized channel down pattern.