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EUR-HKD Forex currency Markets Technical Analysis

Posted by Sir Gissachance on March 21, 2017 at 7:25pm in EURHKD

EURHKD M15 Forex Chart Patterns identified through Price Action and the basics as follows:

2017-03-21_19-09

The basic chart is similar in structure to the recent M15 EURUSD

Rising Channel and Price line due North and Bull

EPR identified as MC Continue long.

From the bottom of the M15 chart and in the following sequence:

Support via 123 Bottom 13

Support via Inverted Head and Shoulders 31

Support via 123 Bottom 13

Seek minor times frames for possible trigger entries and perfect points or hold off as necessary.

5 second is 123B @8.3840 and is a MC to the 1 minute Timeframe.

5 Second Timeframe Currently Positive, Positive, Positive.

Best Regards,

Sir Gissachance

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Forex Market analysis relies on two types of analysis much like Stock Markets: Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.
Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more.

Jim M