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HONG KONG DOLLAR / U.S. DOLLAR

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HKDUSD trade ideas

USD/HKD 1D Chart: Set for new heightsAll 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.
Long
by UnknownUnicorn890690
USDHKD Bull PowerTrading method: RSADVANTAGE Stage 5, 95% accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends. This system is made of custom technical indicators that properly detect trends very early and provides exit signals at the possible dynamic S/R zones. Average yearly pips gained is 40k per pair. USDHKD H4 Technical Outlook To open long positions for USDHKD, it is required: In this situation we are now waiting for a reversal to occur as we wait for Awesome Osci to go into positive territory alongside of our other system indicators to confirm trade entry confirmation for movement to the upside and but if the market trend continues to range this signal will become invalid. Market execution for entry, confirmation will be required for entry. Risk Description: Once signal is confirmed 108 pips will be up for grab with small risk SL at swing low. Profit expectations: 1-2 day trade length expected before hitting profit target I will post exit strategy when signal receives a exit signal. Current Dynamic S/R Levels: Swing high: 7.81534 Swing Low: 7.80566
Long
by UnknownUnicorn1372988
USD/HKD 1H Chart: Channel UpThe US Dollar has appreciated substantially against the Hong Kong Dollar since early 2017, currently standing near the 7.8240 mark. Recently, the given pair has formed a minor channel up that is guiding the Greenback towards 7.8286—the highest level since mid-2007. This suggests that the rate should be due for a long-term fall. In short-term, however, technical indicators flash mixed signals. On one hand, the US Dollar has lost strength of its momentum north, as apparent from the failure to reach the upper channel boundary in its last wave up. Thus, the previously-described fall may come even before the aforementioned high. On the other hand, there may still be some upside potential that could lead the Greenback up to the 7.8275/90 area. By and large, the pair is being supported by the 55-hour SMA since the formation of the channel up. A breach of this line could provide the necessary confirmation of the rate’s further depreciation.
Short
by UnknownUnicorn890690