Hi there. Price is moving impulsively to the upside. Wait for the price to form a continuation pattern and watch strong price action for buy.
The 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...
USDHKD reversed off its resistance at 7.8269 where it could potentially drop further to 7.8153. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Heavy manipulation(nonetheless tradeable) - always use stop. Not financial advice!
The pair is trading near the 7.85000 1M Resistance which has been rejecting every upside break out attempt since April 2018. The RSI on 1D, 1W, 1M is surprisingly stable around 55.000 and last time that pattern formed on 1D a strong selling sequence followed. We are bearish on USDHKD aiming primarily at the 7.81700 1D Support. ** If you like our free content...
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...
USDHKD Short/Sell Idea waiting for a momentum candle close below 7.8325 to sell this one Reason: 1- Regular Bearish Divergence on MACD (in red) 2- Ascending Triangle (in blue) 3- Resistance/Supply zone from Daily/H4 (in blue) Three confluences are enough to consider Selling USDHKD, after a break below 7.8325 (in gray)
Just want to update on the USDHKD peg idea I spoke about awhile back. A bit controversial I know, but I gave reasons on why this is likely to happen. Hong Kong does not have the US Dollars to maintain the peg. The PLA marching into Honk Kong may be what breaks the peg. Looking at the chart, you can see where the buyers are stepping in. We are seeing buyers at...
2019 - 480 Consecutive WINNING Trades $82,000+++
What a week so far. This week we saw the USDCNH break above the 7.00 level, something I have mentioned in my posts for Bitcoin strength. China has said this was normal, due to tariffs and fundamental reasons, while President Trump and the US Treasury think it is an act of currency manipulation. I have spoken about the US and China trade war on my blog. China is...
One of the two largest financial players in HK, and most certainly a derivative trade of the larger macroeconomic story. Keep this chart handy near-term.
#proTRADING with #TradingViewTOOLKIT @YouTube CBOT_MINI:YM1! MarketWATCH SHORT
Not my own idea but Kyle Bass points out 80% of the HKMA's "war chest" currency board reserves have been used maintaining the upper peg. Trumps trade war is putting extra pressure on this peg breaking. Last time we saw a peg break was the SNB Frac's +30% 1500+ pips in 5 minute appreciation. There are only three routes for them they can raise more money in the...
Most of the time this pair isn't really tradable. It's just an interesting record to see how it deal with the patterns! Let's see how it goes!
Possible scenario. Watching for bearish break of trendline. If so, would watch for price to reach key level as noted in the market, which also happens to land at 61.8% fib level. For educational and demonstration purposes only. Trade at your own risk.
This is an excerpt from MACRO BRIEF: Hong Kong Dollar Strengthens on Rate Spike originally published March 10, 2019. The short-HKD trade is nearly consensus, which reminds me of the short-yuan trade a few years ago that was largely snuffed out by the PBOC. Problem here, though, is the HKMA's attempts to draw in HKD inflows have been superficial at best....
2018 saw a rolling bear market in emerging markets, with a lot of EM currencies getting crushed vs. the dollar. Why has everyone forgotten about this? The issues are systemic, and the buy-down of the USDHKD peg only kept the eurodollar market functioning for long enough to forestall some further pain. Now that the peg has been hit again, we are starting to yet...