USDHKD One of the best buys in the market.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 7.82500.
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Usdhkdsignals
USDHKD Bounced off the 2022 Support! Strong buy!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 Target is 7.8300.
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USDHKD Be ready for a long-term buy.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 buying towards the Resistance Zone.
Our Target will be slightly lower at 7.83900 (April 08 High).
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USDHKD Approaching the 2-year Resistance Zone. Major Sell.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 Zone).
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USDHKD Wave trading continues for high percentage profits.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 should start topping in February. That will be our next low risk trade and it will be a sell. Profit taking will be made towards the end of June as the Sine Wave approaches its bottom.
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USDHKD The wonderful wave trading of this pair.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 this Cycle has bottomed and we should again see it rise to the pivotal 7.8500 level. What we want to see after that is a series of Lower Highs on the 1D RSI and as usual that will be the signal to sell.
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USDHKD Drop imminent on a 5-year RSI signalThe USDHKD pair naturally has a tight trade but at times gets volatility shocks. A signal that since 2017 has triggered such shocks to the downside has been flashing on the 1D RSI.
As you see during that period, every time the 1D RSI formed Lower Highs while the candle action was either rising or flat, a strong drop occured. We have another 5 such occurrences. The price is right now on the multi-year Resistance level, supported by the 1D MA50 (blue trend-line) and the most likely target is the 1D MA200 (orange trend-line), which has been untouched since February 2021.
Notice also the nice flow provided by the Sine Waves that have fairly accurately caught major market lows since 2016. Such a low is next projected by this indicator for the last week of November. The timing seems perfect for a sell on the USDHKD pair.
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