Hong Kong Dollar (USDHKD)
USDHKD Rejection Candle formed on the Daily Chart.
Clear trend presenting itself with the US dollar vs Hong Kong Dollar With most of April crushing the USD it appears we are now turning the tables with a curved bottom and a clear uptrend painted thus far for this pair. I have outlined the green box for LONG entries which is sitting at the point of control with a fib pull from previous swing high to low...
Recently Hang Seng Index reversed on a strong monthly Supply Zone finishing it's external bullish cycle The price decided make an external bearish cycle.. now it's advised to SELL at long term basis. Next destinations: A) DEMAND (26908.14 - 26021.63) Here price need to decide: if reverse in order to back to SUPPLY (32004.32 - 31126.20) OR BREAKOUT ,...
Given recent newsflow I wanted to look into Hang Seng HK equities index - feels like that the zone just below 22,000 is critical long term - a break below would be extremely bearish. Together with the general reliance on what is a rigged real estate market I think it is one of the most fragile indices out there.
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
Hi there. Price is forming a reversal pattern to change its formation. Wait for the price to complete the pattern and watch strong price action for buy.
The pair marginally broke the 1W Support but so far only on a candle wick. Since it has rebounded back above that danger level, we can consider that the Support is holding. The 1W chart has turned nearly oversold (RSI = 27.767, MACD = -0.073, ADX = 36.545) and we treat this as the optimal buy opportunity for the long term. The long term pattern is as you see a...
Hi there. Price is moving impulsively to the upside. Wait for the price to form a continuation pattern and watch strong price action for buy.
Pattern: 1D Channel Up. Signal: Bullish on the next Higher Low (typically the 1D MA50 supports and the RSI goes within 50.000 - 45.000). Target: 14.1500 (projected Higher High of the pattern).
Just an observation that I have brought up in the past. The link to that post is below. But, I do find it interesting to note that China is the only reason that our Markets haven't nose dived into the ground yet. They keep saving it. Probably because of that "Trade Deal" that is supposed to happen right? Like two weeks ago....."Biggest Trade Deal Ever", remember? Guys?
The price was rejected on the 1D MA50 within the wider 1M Channel Down (RSI = 41.549, MACD = -0.053, Highs/Lows = -0.0844, ADX = 50.328). The continuation of this 1D bearish sequence should lead to a new Lower Low but the first target is the 1D Support at 8.5320. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas....
The pair stopped the uptrend near the 1W Resistance Zone (5.77540 - 5.78100) with the 1D RSI hitting 74.000. Based on that we are expecting a rejection to the nearest Support which is 5.71500. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
The pair is trading near the 7.85000 1M Resistance which has been rejecting every upside break out attempt since April 2018. The RSI on 1D, 1W, 1M is surprisingly stable around 55.000 and last time that pattern formed on 1D a strong selling sequence followed. We are bearish on USDHKD aiming primarily at the 7.81700 1D Support. ** If you like our free content...
USDHKD looks good on both the 4 and 2 hour charts. We have had an uptrend with higher lows and higher highs and then we stopped making new higher highs. This range and even double top here shows us the trend may be exhausting. From here, we need to see a break and close below 7.8360 zone. First target would be 7.8300 zone. Also want to share some information...
Priceline of US Dollar / Hong Kong Dollar forex pair has formed a bearish BAT pattern and entered in potential reversal zone. MACD turned weak bullish from strong bullish. Stochastic has given bear cross. I have used Fibonacci sequence to set the targets. The long position can be taken between 0.382 to 0.786 Fibonacci projection of A to D leg coz we have a strong...
Just want to update on the USDHKD peg idea I spoke about awhile back. A bit controversial I know, but I gave reasons on why this is likely to happen. Hong Kong does not have the US Dollars to maintain the peg. The PLA marching into Honk Kong may be what breaks the peg. Looking at the chart, you can see where the buyers are stepping in. We are seeing buyers at...