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 🙂