US Dollar ($) ⇨ Hong Kong Dollar (HK$)(USDHKD) HEFFX Outlook

US Dollar ($) ⇨ Hong Kong Dollar (HK$)(USDHKD) HEFFX Outlook

US Dollar ($) ⇨ Hong Kong Dollar (HK$)(USDHKD) HEFFX Outlook

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 7.76.

The projected upper bound is: 7.76.

The projected lower bound is: 7.75.

The projected closing price is: 7.76.

FOREX HKD= closed up 0.001 at 7.760. Volume was 5% below average (neutral) and Bollinger Bands were 45% narrower than normal.

Open      High       Low        Close      Volume
7.759      7.760      7.758      7.760      6,986

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       7.76                7.76                7.76
Volatility:                0                     0                     0
Volume:                  6,912              7,475              6,421

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary Hong Kong
FOREX HKD= is currently 0.0% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into HKD= (mildly bullish). Our trend forecasting oscillators are currently bullish on HKD= and have had this outlook for the last 8 periods.

Hong Kong, HKD, HEFFX, Outlook, China, Asia, Shayne Heffernan

HEFFX Momentum Hong Kong
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.3612. This is not an overbought or oversold reading. The last signal was a sell 7 period(s) ago.

Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.27. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 39 period(s) ago.

Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 period(s) ago.

MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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