USDHKD for me needs to get and hold above 7.8000
This is for Carlos who requested I take a look at USDHKD on one of the recent Monday Market Updates.
This weekly USDHKD chart shows the boundaries of the currency over the last few years as it moves between its upper boundary at 7.85, and its lower boundary at 7.75.
Presently we've seen a grind north from the lower boundary this year and we're presently hitting the Feb 20 highs just underneath 7.80.
For me, price needs t get above that 7.80 range and hold above it on the weekly chart for me to remain bullish. if it can do that then its next target would be in the 7.825 region.
Watch the price action here to see if we break and hold the 7.80 level...or whether its rejected.
Hope that helps Carlos!
This weekly USDHKD chart shows the boundaries of the currency over the last few years as it moves between its upper boundary at 7.85, and its lower boundary at 7.75.
Presently we've seen a grind north from the lower boundary this year and we're presently hitting the Feb 20 highs just underneath 7.80.
For me, price needs t get above that 7.80 range and hold above it on the weekly chart for me to remain bullish. if it can do that then its next target would be in the 7.825 region.
Watch the price action here to see if we break and hold the 7.80 level...or whether its rejected.
Hope that helps Carlos!