Hong Kong Dollar Showing Exhaustion
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 from hedge fund manager Kyle Bass. He has come out saying in a recent interview that he still expects things in Hong Kong to get worse. He used the term "bloody".
October 1st is the Communist Partys 70th anniversary. Big celebrations planned. Military parade too of course.
Kyle Bass has said that the CCP cannot afford to have protests in Hong Kong for this celebration. He has said that he thinks the CCP will do something about it. Let us see what happens in the next 24 hours.
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 from hedge fund manager Kyle Bass. He has come out saying in a recent interview that he still expects things in Hong Kong to get worse. He used the term "bloody".
October 1st is the Communist Partys 70th anniversary. Big celebrations planned. Military parade too of course.
Kyle Bass has said that the CCP cannot afford to have protests in Hong Kong for this celebration. He has said that he thinks the CCP will do something about it. Let us see what happens in the next 24 hours.