Time to go Hong Kong....

....that is before it further strengthens.

Fig 1 SGD HKD Weekly Chart

I am not sure if I have written on HKD recently. Well, it is pegged to USD so there is nothing much to read from that angle, and it is much closer to my concern when come to SGD exchange rate.

The SGD HKD chart is interesting, there is definitely a top formation, you can consider both double top as well as a triangle. The triangle objective has been met at HKD5.67,the double top on the other hand points to HKD5.28.

Base on double top theory, there is also a tendency for the counter to retrace to it s neck line wich in this case fixed at HKD5.89. So mot likely it is retrace back to this level before proceeding downward to its objective.

So if anyone wants to travel to Hon Kong, wait for it to reach HKD5.89.