USDHKD: Rejection on the 1D MA50 and LH trendline. Sell.

FX_IDC:USDHKD   U.S. Dollar / Hong Kong Dollar
USDHKD is on a neutral 1D technical outlook (RSI = 47.421, MACD = -0.002, ADX = 19.830) as it is approaching the end of a Descending Triangle pattern. Yesterday it got a double rejection on the 1D MA50 and the LH trendline.

A harmonic Descending Triangle broke down to the S1 level after after its third contact with the LH trendline. Consequently we trrat this as a sell opportunity (TP = 7.7940).

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