USDHKD (1D): Take Advantage of the PegUSDHKD
Timeframe: 1D
Direction: Short
Confluences for Trade:
- Pegged currency, strongly defended at 7.85 (Limited risk; any break above the 7.85 levels is gonna be a crisis issue)
- Stochastic Overbought momentum
- Not directly related but Double Top Resistance for the DXY, helps support the drop in USD strength
Suggested Trade:
Entry @ Area of Interest 7.8365 - 7.8499
SL: 7.8573
TP: 7.7935
RR: Approx. 2.91 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
