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USDHKD 6 Mar 2024

USDHKD 6 Mar 2024 on the H4 timeframe. The pair experienced a bearish trend that brought it down to break the kumo cloud on the ichimoku indicator at the end of last week. However, the pair was able to reverse the trend and also tried to strengthen again. If the pair is again able to return to bullish and break out of the kumo, then go-long could be an option. Referring to the stochastic indicator where the chart is looking to rise towards the 80 level, reinforces that bullish might happen. But if the bearish trend is a result of the moving average crossing on the stochastic, then go-short is an option. Keep an eye on the volatile market movements and learn many indicators before making trading decisions.

Translated with DeepL.com (free version)

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