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HKG.IDX/HKD WILL TEST THE 31000 LEVEL

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
HKG.IDX/HKD Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is neutral.
  • The Stochastics is heading down.
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HKG.IDX/HKD | A DECENT UPTREND IS IN FORCE

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.
HKG.IDX/HKD Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is headed North.
From the weekly chart, it looks like there is more potential to the upside. But last weekly candle suggests that there is some indecision.
HKG.IDX/HKD Daily Chart
  • The MACD on the Daily chart is in positive territory.
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UPDATE-7
The price on the 4 Hour chart is in the uptrend. next week is full of holidays so I am expecting very less moves in the pair. Seeing the uptrend I expect the pair to move upto 30000 mark by next week. I hope my prediction will be within 1% range.

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UPDATE-8
The pair is currently trading at 29660.96. The pair is following the rising trendline beautifully. The MACD is in positive territory and the RSI is also looking good. I expect the pair to be close to our target of 29741 on 2nd January at 1200 GMT.

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UPDATE-9
The pair is currently trading at 29838 levels. The pair has made an intraday high of  29884.97 till the time of writing this update. The pair is following the rising trendline. Indicators look beautiful. A consolidation is needed here for a move above 30000.

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UPDATE-10
The pair is currently trading at 29920 levels. The pair has made an intraday high of  29971 till the time of writing this update. The pair is following the rising trend line. Indicators look beautiful. We need a drop down till 29700 levels for a good accuracy for January prediction. The indicators are looking good.

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UPDATE-11
The pair closed the week at 29912 levels. All the indicators are positive except the pair is near the psychological level of 30000. I expect a pullback from here before we break the 30000 mark. And that pullback is possible on Tuesday as Monday is a bank holiday.

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