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USDHKD 28 Jul 2023

USDHKD 28 Jul 2023 on the H4 timeframe. It can be seen that the pair continues to be below Kumo on the Ichimoku indicator. It has been bearish since three days ago until it reached 7.79567 and then rose again to 7.80224. However, today it must be bearish again due to overbought. If referring to the stochastic indicator which has reached saturation point and then the chart shows a downward signal, then go-short can be an option for traders. If there are no strong factors that can influence the market, bearish may continue until the pair touches the support line. Keep exploring many indicators to understand the market movements and trade with your own risk.

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