USDHKD in 1h time frame chart is printing Downtrend with Symmetrical Triangle pattern and there is no any divergence in RSI. Therefore market may seem more inclined to move in the direction of the existing trend. Hence I'll take short trade with Sell Stop Order on the breakdown last Lower Low level with stoploss above at last Higher Low level.
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...
USD HKD Bullish Trend is trading in bullish trend printing Higher Highs and Higher Lows in a bullish pattern. Thanks
4hr uptrend, 1hr demand entry into new highs, 6.3 RR.
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...
Fixed exchange rates, a cornerstone of international finance, play a pivotal role in shaping global commerce and investment landscapes. This article delves into their intricacies, exploring the historical evolution, practical understanding, and the balance of benefits and challenges they present. Historical Context of Fixed Exchange Rates The concept of a fixed...
USDHKD Down. Double Top. Price flattening on top. M5 is prevailing trend with no bias from top timeframes. Divergence. Taking Short for 5x.
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...
Using DOw theory we see a major downtrend, keeping the stop loss at the last resistance/LH and TP at last support. Sell Stop, two trades each at same entry one exit at TP1 one at TP2. R/R 2/3.
Following USDHKD depicted a clear inverted Cup & Handle approach in trend that proved a Bear run thus shorting at a precise Entry Point and placed TP1 a bit below the potential depth of the cup.
Hong Kong has been facing quite a lot of pressure from Mainland China, and a good portion of their higher networth population are sending assets abroad to diversify from Asia risk. The HKD is softly pegged to the USD and they've been maintaining this peg for 40 years. Their stock market is at a very key level of 20k HKD and could start to break down (the HKMA uses...
As the chart shows the divergence and then it prints consecutive LH and LL so we can predict a bearish trend and we use fib to determine entry
The Swiss Franc used to be pegged to the Euro until 2015. The ECB went on a money printing spree with its own QE and the SNB could not sustain maintaining the peg. So it decided to remove the peg and the Swiss Franc strengthened against the Euro more than 20%. This caught a bunch of traders by surprise (mainly because the SNB said it was committed to...
The Hong Kong dollar is confined to an extremely tight trading range by the central bank. The authorities have been able to maintain this peg for many years. Right now the dollar is trading right at the top of the range. If the peg breaks it would be notable.
Hong Kong has adopted a fixed exchange rate regime with the US dollar since 1983, with a rate of 1 USD to 7.80 HKD (between 7.75 and 7.85 HKD per 1 USD since 2005). As a result, the only operational target of the monetary authority (HKMA) is the Hong Kong dollar exchange rate against the US dollar. Looking at the USDHKD in the W chart, I have noticed that it is...