EUR/HKD 1H Chart: Bypasses 100-hour SMA
The common European currency is losing value against the Hong Kong Dollar in a minor descending channel. However, a combined pressure of the 55-, 100- and 200-hour SMAs most probably will lead to dissolution of this pattern already by the end of the day. Once this happens, the pair is expected to enter into a barrier-free...
ECB AND HONG KONG MONETARY AUTHORITY (HKMA) MANAGE THE WIDTH OF EURHKD MED TERM TARGET ZONE FOR 15 % + 1 % BY REACHING 9.37/9.40 THE UPPER BAND.
SHORT EURHKD AT 9.37/9.40
STOP LOSS 11.50
RISK TYPE: LOWER RISK (STOP LOSS ABOVE UPPER MED TERM BAND)
FX TRADING CARRY THE HIGHEST RISK OF INVESTMENT. BOTH TRADERS AND COUNTER PARTIES TO TRADE HAVE...
EUR/HKD 1H Chart: Descending Triangle
The common European currency is trading against the Hong Kong Dollar in a descending triangle pattern. An existence of the figure became evident shortly after the currency pair failed to slip below the 9.1466 level multiple times.
In the early Monday morning the currency rate made a second rebound from the triangle’s...
Here's a breakout reversal play for EURHKD. Price has been locked in a range for months and finally broken out. We want to wait for the price to re-test the support area before going long. Enter long on buy limit order or on buy stop with price action signal. As with any trade, nothing is guaranteed. Size accordingly and manage your risk. Happy trading!
Possible longs off what seems to be a good level, but there are some issues with the trend here. It proves too risky to get any positions and keep them for the long hold because
1:The target isn't expansive. The target is nearby, and we're already near strong resistance levels.
2:We're in a minor zone overall. The levels aren't as integral as I would...