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EUR/HKD Higher Inside the Wedge

fxsurprise8 Posted 31 July as Analysis on EUR/HKD, Target: 8.5980, Date: 1st of September, 12:00 GMT  in #Technical analysis #CHF #Federal Reserve #USD/CHF #Us Dollar #Snb #Swiss Franc #EUR/HKD #Swissy
The EUR/HKD has been in a strong downtrend last year. On the chart below we can see the EUR/HKD getting sold heavily over 20 percent, from 10.80 to 8.12, as the ECB undertook a large QE program.
But this year things are starting to turn around. Since March 2015, there have been no new lows for the pair. On the contrary, a sequence of higher lows may indicate more gains for EUR/HKD. To be fair, we're also seeing a sequence or lower highs so this situation is not wildly bullish by any measure. Thi…
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No Major Changes for EUR/HKD

fxsurprise8 Posted 31 May as Analysis on EUR/HKD, Target: 8.5195, Date: 1st of July, 12:00 GMT  in #Technical analysis #HKD #Euro #Hong Kong #EUR/HKD
I foresee no major changes for the EUR/HKD pair. The currency pair had a wild rise in May, first rallying from 8.6877 to 8.8862, only to surrender all gains in the second half of the month.
We are currently quoted around the 0.5150 mark, not far from Friday's high. I think this level is an important resistance for EUR/HKD. Look at the daily chart below. We can see the 8.52 mark being tested again and again. It's the level price keeps coming back to. I'm betting on this level putting an end to th…
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fxsurprise8 31 May

Small typo ''We are currently quoted around the 0.5150 mark'' I forgot the 8 in front :p

We are currently quoted around the 8.5150 mark

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Hong Kong Dollar at 10.61

fxsurprise8 Posted 30 June as Analysis on EUR/HKD, Target: 10.611, Date: 1st of August, 12:00 GMT  in #Technical analysis #Euro #Hong Kong Dollar #EUR/HKD #Eurhkd
The Hong Kong Dollar is trading mixed against the Euro. The longer term trend, as indicated by the daily chart below, is down.
The short term trend however is up. The EUR/HKD rose from 10.47 to 10.615 in the last three weeks alone. However, we are now running into a previous congestion area, as you can see on the chart below. Furthermore, the 10.61 figure is the 38% Fibonacci retracement of the last move down in the currency pair. I think these two developments will restrain the rally going forw…
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