Pattern: 1W Falling Wedge. Signal: Bullish as the price is approaching the Lower Low zone and the RSI is on bottom levels. Target: 5.7000.
Forex News – Hong Kong’s biggest-ever street protest has come to its 11th week, and more are joining the calls for a resolution. Last week, Hong Kongers took out their money from ATMs. The goal was to prove the city was more than just a cash cow. The movement has further escalated the instability due to the protests. The city’s currency has also...
What a week so far. This week we saw the USDCNH break above the 7.00 level, something I have mentioned in my posts for Bitcoin strength. China has said this was normal, due to tariffs and fundamental reasons, while President Trump and the US Treasury think it is an act of currency manipulation. I have spoken about the US and China trade war on my blog. China is...
Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
This pair is trading on a long term 1W Channel Down (RSI = 45.188, MACD = -0.052, Highs/Lows = 0.0000) with clear Lower High entries and an obvious 8.7850 Support. The price has just entered the neutral territory so there is still potential to rise a little further before resuming the underlying bearish trend. We estimate the reversal point to be just above the...
Pattern: Bullish Channel on 1D. Signal: Long as the price has approached the support (black solid line). Target: 5.8200.
The pair is on a standard 4H Channel Down (RSI = 33.623, MACD = -0.012, Highs/Lows = -0.0225, B/BP = -0.0448), which since it crossed the 5.5788 4H support is expected to continue lower. The expected Lower Low is estimated at 5.5380 where a pull back to 5.5788 is expected. ** If you like our free content follow our profile (www.tradingview.com) to get more...
Standard 4H Channel Up (RSI = 60.914, MACD = 0.022, Highs/Lows = 0.0098) but with a clear Resistance zone so far at 9.0630 - 9.0690. This creates the conditions for a short-term long position with TP = 9.0600. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TP = 5.6600 hit as the 1D Channel Down expanded but on a lower gradient (MACD = -0.006, B/BP = -0.0102) with RSI and Highs/Lows neutral. Nevertheless there are two optimal short opportunities presented on the chart depending on which pattern prevails. TP = 5.63050.
The pair is trading within a 1D Channel Down (RSI = 36.144, MACD = -0.025, Highs/Lows = -0.0383, B/BP = -0.1084) and is approaching the 1W Support at 8.87100. Quick short opportunity for TP = 8.90390.
TP = 14.41427 hit as the 1W Channel Up (RSI = 56.437, MACD = 0.090, B/BP = 0.2883) rose to a 14.6150 Higher High. The price has since pulled back in order to price a new Lower Low, which should be near 14.200 (Highs/Lows = 0.0000). We will be going long on HKDJPY with TP = 14.600.
Going to try this short tonight, lots of the Indices had good drops today which could lead to a big sell of the $ vs other currencies. Its broke out of a bear pennant, should it not shoot up past 7.852 it should be a safe enough play. Target is 7.77
HKDJPY is rising having made a Higher Low on the long term 1W Channel Up (RSI = 59.227, MACD = 0.035, Highs/Lows = 0.0546, B/BP = 0.1578). We expect to crosse the pivot (blue dotted line) swiftly as the buying pressure on 1D (RSI = 60.972, overbought on 3) accelerates. Consequently we are going long, TP = 14.41427 (previous Higher High) and 14.51650 (potential new...
TP = 5.66170 hit as the 1W Channel Down (MACD = -0.073, Highs/Lows = -0.0245, B/BP = -0.1173) made a new Low just below the target. The price jumped to a new Lower High and is now set to price a new technical Lower Low. The 1D Lower Low line supports earlier however, so our new short's TP is 5.58718.
TP = 9.2050 hit as EURHKD moved sideways before the Channel Down selling pressure pushed the price lower. The pair is still being traded within a long term 1W Channel Down (RSI = 41.770, MACD = -0.084, B/BP = -0.2478) with the neutral Highs/Lows = 0 suggesting that a Lower High has been priced. As you see on the chart that value was probably yesterday's 9.1235...
The previous TP = 9.23060 has been hit as the 4H Channel Up peaked just above 9.25000. EURHKD is now trading within a 1D Rectangle (RSI = 46.757, STOCH = 50.624, ADX = 26.644, Williams = -54.225, Highs/Lows = 0.0000). We will be performing scalp trading on the tight bands of this Rectangle with the first trade a long (TP = 9.2050).
SGDHKD is on a 1D Channel Down formation (MACD = -0.016, B/BP = -0.0239) that is near printing its new Lower High (RSI = 48.006, Highs/Lows = 0). Even the 1W pattern indicating a long term selling pressure (Highs/Lows = -0.0442, B/BP = -0.1618, RSI = 38.403). We are taking a short, TP = 5.6600 but on the first sign of a bounce on 5.7088, we will book the profit earlier.
AUDHKD has quickly resumed the downtrend after a new Lower High on the 1D Channel Down (RSI = 40.834, MACD = -0.018, Highs/Lows = -0.0180, B/BP = -0.0503) and is now seeking its next Lower Low. A short is opened on the current market price, TP = 5.66170.