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U.S. Dollar / Hong Kong Dollar

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USDHKD trade ideas

USD/HKD will break down from a major support lineThe pair will break down from a major support line, sending the pair lower towards its all-time low. Despite the Federal Reserve retaining its current benchmark interest rate of 0.25% in yesterday’s report, the US dollar is still bound to fall. The catalysts were the country’s gross domestic product (GDP) and initial jobless claims reports today, July 30. The largest economy in the world is expected to publish a 34.1% contraction for the second quarter of 2020. If the expectations came close to the actual figure, this will be America’s largest quarterly drop in history. Meanwhile, analysts are expecting the increase from last week’s initial jobless claims report to continue for this week. Aside from that, the increasing tension between the United States and China will also take a toll on the country’s economic performance in the coming months. Trade war’s casualty, Hong Kong, gave a forecast on its Q2 figure at a 0.1% decline.
Short
by Financebroker
The most simple swing/position trade of all time.USDHKD FX:USDHKD has been acting the same since 2007, it is currently at the same bottom which has been a turning point since 2007 as well. Technically speaking this should be a turning point once again. I'm considering starting 10K account and risk 50% of my capital to avoid a margin call if it decides to break it's all time low which it has never done before. I need more opinions on this trade, is there anyone who's sitting on some fundamental information regarding HKD?
Long
by ehgnfx
1
HKDUSD Short swing trade with 4 huge R/R possibilitiesThe HKDUSD has NEVER broken and closed above 0.12899 (approx) since 2007 when it was digitized. Therefore, even though history is not guaranteed to predict the future, it seems highly probable that price will fall. This is one idea to set your alarm for. I have set out 4 possible trades with varying R/R all over 5/1. I have defined extremely aggressive ideas here as a heavy short is on the cards. 1) R/R = 5/1 2) R/R = 8/1 3) R/R = 18.33/1 4) R/R = 26/1
Short
by JayStieren
The Hong Kong dollar to US dollar exchange rate remains flatThe pegged currency continues to hold bullish investors on the defensive. The Hong Kong dollar to US dollar exchange rate remains flat near its support line in trading sessions as seen in the chart. It appears that the pair will ultimately inch its way to its declining resistance level in the coming sessions. That will then form a new resistance in the coming weeks. The pair is evidently bearish as the greenback continues to see reds in trading. The earlier attempt of the buck to recover was futile, the 50-day moving average remains well below the dominating 200-day moving average. Bearish investors of the USDHKD pair are quite confident that the pegged currency will maintain its hold despite the ongoing trade tension between Beijing and Washington. Also, the ongoing anti-Beijing protests in Hong Kong are doing very little to take away the confidence of bearish investors. The protestors mark their first anniversary of defiance against China yesterday.
Long
by Financebroker