The USDHKD pair just formed a 1W Death Cross this week but the current 1W candle is a green one. The reason is that it is rebounding after reaching last week the 2-year Support Zone. We believe that we will see an aggressive rise next that will approach the Lower Highs trend-line. Our target is just below it at...
HS50 - 24h expiry Selling posted in Asia. Short term bias is bullish. Price action looks to be forming a bottom. Preferred trade is to buy on dips. Weekly pivot is at 17348. We look to Buy at 17350 (stop at 17190) Our profit targets will be 17750 and 17850 Resistance: 17870 / 18600 / 19780 Support: 17285 / 16695 / 15860 Risk Disclaimer The trade ideas...
The USDHKD pair hit amidst Monday's turmoil the top of the Support Zone that was established back on the week of December 05 2022 and instantly rebounded. This naturally shows the strong technical demand of that level. Even tough another 1-2 weeks of consolidation is possible, on the long-term, we expect a test of the May 01 2023 Lower Highs trend-line. Our...
The USDHKD pair has been giving us excellent trades in the past 12 months and the latest (April 18, see chart below) almost hit our 7.79500 Target about 3 weeks ago: With the price approaching yet again the 11-month Support Zone, there is no reason to diverge from this successful pattern. Right now by being so close to the Support Zone, the R/R ratio favors...
The USDHKD pair has been rising since November 2023 after hitting the Support Zone and is approaching the 2-year Resistance Zone. The Sine Waves help us understand the cyclical nature behind it. This is a low risk sell opportunity for the long-term. Our Target is 7.79500 (top of Support...
We have been using the USDHKD pair for wave trading for a very long time (see standard example below) due to its distinct characteristic and tight correlation: It is more than obvious on this 1D chart that the application of the Sine Wave tool gives high probability entries and exits for bottom/ top buying and selling. Currently we are on an uptrend that...
I've been following this chart for a while. After having an OVERSOLD signal in the 1D chart, I also received buy signals in the 4H chart and therefore I decided to report this position. At this moment the position is not open yet, but if it follows the trend, as indicated in the graph (by the blue arrow), I will open the trade as soon as it reaches the indicated...
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...
It has been almost 1 year since we published a long-term perspective on the USDHKD pair (chart below) based on a cyclical behavior and as you see it has worked wonderfully: Basically the Sine Waves couldn't have mapped it better and have successfully projected the sharp fall straight after our article as well as the one that started in May (2023). Right now...
Hang Seng got rejected on the 1D MA50 two weeks ago and is headed again to the bottom of the Channel Down pattern. The 1D timeframe turned red again on its technical outlook (RSI = 41.280, MACD = -221.700, ADX = 20.498) and this is becoming a buy opportunity again. Every prior rise inside this Channel Down has been at least +10.90% so the one that started on the...
HS50 - 24h expiry - We look to Sell at 18100 (stop at 18300) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. A higher correction is expected. The bias is still for lower levels and we look for any gains to be limited. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move...
Since 1983, there have been many calls for Hong Kong to change its HKD peg. Economists at ANZ Bank analyze HKD amid de-dollarisation. HKD is like a ‘stablecoin’ “The decline in the HKD aggregate balance is unlikely to cause market panic. Once the HIBOR-LIBOR gap narrows, HKD outflow pressures will be alleviated. The HKD peg to the USD is defended via changes in...
HS50 - 24h expiry - We look to Sell at 19213 (stop at 19373) We look to trade the current range. Trading has been mixed and volatile. Bespoke resistance is located at 19200. Preferred trade is to sell into rallies. The primary trend remains bearish. Our profit targets will be 18813 and 18733 Please be advised that the information presented on TradingView...
HS50 - 24h expiry - We look to Buy at 19220 (stop at 19060) We are trading at overbought extremes. A lower correction is expected. Posted a Double Bottom formation. Neckline support is 19217. Further upside is expected although we prefer to set longs at our bespoke support levels at 19220, resulting in improved risk/reward. Our profit targets will be 19620...
HS50 - 24h expiry - We look to Sell at 19220 (stop at 19405) Price action looks to be forming a top. The 200 day moving average should provide resistance at 19235. This is negative for sentiment and the downtrend has potential to return. Preferred trade is to sell into rallies. Further downside is expected although we prefer to sell into rallies close to the...
HS50 - 24h expiry - We look to Buy at 19450 (stop at 19250) We are trading at overbought extremes. A lower correction is expected. Short term bias has turned positive. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Further upside is expected although we prefer to buy into dips close to the 19430 level. Our...
HS50 - 24h expiry - We look to Sell at 19469 (stop at 19619) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Price action looks to be forming a top. The 200 day moving average should provide resistance at 19458. This is negative for short term sentiment and we look to set shorts at good risk/reward levels...
HS50 - 24h expiry - We look to Sell at 19995 (stop at 20155) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The Ichimoku cloud and 200-day moving average provide further resistance and we look to set shorts in early trade to capture this selling opportunity. The weekly pivot is at 20000. The hourly chart...