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EUR/HKD Potential Upward Movement

EUR/HKD Long-Term Trend: Bullish

Key Resistance Levels: 9.06507, 9.08755, 9.08800.

Key Support Levels: 9.00155, 8.96131, 8.89697.

Daily Chart:

The price on the higher time frame found support around the 9.00155 HKD level where it posted an engulfing bullish pattern. This could lead to a reversal and a move higher all the way up toward the next key resistance level (9.06507 HKD).

EUR/HKD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair posted a double bottom formation which led to a move higher and the breakout of the resistance trend line. A lower correction could be seen to the neckline of the double bottom before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 9.00367

TP 1 @ 9.06006

TP 2 @ 9.08755

Stop Loss @ 8.98503

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

3 comments

  1. Hi my name is George and im a novice trader. ive been seeing videos of people growing $30 accounts,and has me wondering if your VIP signal group can do the same for me??

  2. Please teach me how to plot your signals

  3. Why is this pair greyed out in mt4

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