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HONG KONG DOLLAR / U.S. DOLLAR

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HKDUSD trade ideas

CHART OF THE MONTH : Potential Long. Price is approaching once again strong support levels , price has not been able to break below these levels in past , and considering that history repeats itself we may see strong move upside. USDHKG has been exceptionally kind to us as we have been able to sell from top in our analysis and now we can see strong long opportunity with small risk... In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your trading plan . Follow us for more updates....
Long
by AariTech
5
The US dollar has slipped largely against the Hong Kong dollarThe US dollar has also slipped largely against the Hong Kong dollar, with the buck barely taking back its losses to the Asian currency amid the health crisis. The exchange rate has fallen to record lows as the buck loses its shimmer against the HKD. The Hong Kong dollar’s strength is largely due to the fact that the US central bank has slashed key interest rates to zero. The strengthening also follows the Hong Kong Monetary Authority’s decision last week to cut its base rate by 64 basis points to 0.86%, which is comparatively less aggressive than the Fed’s 100-point cut. And because of the gap, the higher-yielding Hong Kong dollar assets are more attractive for investors. In the past month, traders have been buying the US dollar to buy the Hong Kong dollar, making it among the most profitable carry trade in the realm of the forex market. There’s also higher liquidity for the HK currency, with banks hoarding cash for quarterly regulatory checks.
Short
by Financebroker
USDHKD - 3 hour ChartHello Amigo’s I will share my thoughts on the current market situation and any possible targets. You can make your conclusion out of this and make your own decision how to play it! USDHKD is showing signs of continuation to the downside. We have a indecision candle on the 3 hour chart, EMA’s are acting as resistance. There is big chance that the lower high is set. If we fail to hold support we will drop probably to 7.76 and further to 7.75. Guys, my goal is to reach my first 100 followers this month! A like and follow is all I need and its FREE! Thanks so much.
Short
by CryptoColugo
USDHKD LONG TRADE IDEA UPDATEPosted this idea last week, link to the previous idea attach below. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together. Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support!
Long
by LCFXpro
1
USDHKD LONG TRADEA strong decline since December 2019 recently got pause and decelerate above 7.6000 major key level and multiple rejection above the highlight area indicate a reversal move might happen, look for low test or engulf candle closed before placing long trade. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together. Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support! LamchiuFX
Long
by LCFXpro
China and the United States again in the Market’s AttentionChina and the United States again in the Market’s Attention Before the NFP report, the dollar stands tall. Traders closely watch the fallout of China virus. For weekly decline, safe havens are heading. Versus the yen, the dollar traded near a two-week high. Ahead of crucial job data, there are upbeat United States economy indicators. Nevertheless, the spread of a new coronavirus in China remains a risk to the financial markets. In foreign trade, the yuan held onto slim gains versus the dollar. It has hopes that Chinese stimulus will lessen the economic impact of the epidemic. Nevertheless, the rising death toll is keeping investors on edge. Near a six-week low pound was trading against the dollar Pound nursed losses versus the euro. It is dogging by persistent worries about negotiations between the European Union and Britain for the post-Brexit trade deal. There was a recent improvement in United States economic data. It has given some traders a respite from concerns about the new virus. Nevertheless, these concerns are most likely to loom large for weeks because investors assess the scale of the economic impact. The United States and China Masafumi Yamamoto is a chief currency strategist at Mizohu Securities in Tokyo. He said that there is a perception that the United States economy will be much less affected by the virus than China or other countries. That is why the dollar is gaining. He adds that risk-off trades can take a break because they don’t know the actual state of China’s economy until we see data for February. A chief currency strategist at Mizohu Securities in Tokyo Masafumi Yamamoto says that there can be some declines in the numbers for China and other Asian countries. On Friday, in Asia, the dollar traded at 109.97 yen. It was just below the two-week high hit earlier. The dollar was on course for a 1.5 percent increase versus the yen for the week. It would be its biggest weekly gain since July 2018. It is leading news for today. Source: MyForexNews
by Financebroker
USDKHD LONG TRADEA strong decline since December 2019 recently got pause and decelerate above7.6000 major key level and a potential double bottom pattern printed and indicate a reversal move might happen, look for low test or engulf candle closed before placing long trade. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together. Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support! LamchiuFX
Long
by LCFXpro
1
USD/HKD will bounce back from a major support lineThe pair will bounce back from a major support line, sending the pair higher towards a major resistance line. Hong Kong’s gross domestic product (GDP) for the fourth quarter will continue to plunge. This was amid the continuous protest in the city and fears of coronavirus outbreak in the special administrative region (SAR). Since October 2019, the country’s GDP was on the negative territory. The SAR finally entered recession in November after two (2) consecutive negative GDP results. The negative growth will likely continue as Hong Kong faces another problem. The coronavirus outbreak in Wuhan, China has led to a mass migration from mainland China to Hong Kong. Chief Executive Carrie Lam rejects calls for her government to close border with China. This was despite major economies like the US and Australia closing their borders to any arrivals from mainland China. This will further put pressure on the already embattled country.
Long
by Financebroker
USDHKD LONG TRADETemporary strength on HK dollar might losing steam soon as technically we are seeing buyers never let sellers to bring the price below 7.76000 as of now we are looking at the potential of taking long trade only if we can see a breakout of the descending trend line from December 2019 high. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together. Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________ Thank you for your support! LamchiuFX
Long
by LCFXpro
1