SGD HKD @ Neckline, retreat starting

I have not been blogging for 2 weeks, been preparing for Business trip to Munich and Villach.

I first thought of bringing along my notebook so that I can look at the chart, but then there are too many things to carry and I have to let go of my craving.

Anyway, the counters I am looking at are quite towards what I am expecting.

Fig 1 SGD HKD Weekly

One counter I am observing is SGD HKD. I did mention in my last blog that it is time to go Hong Kong, inded it is true as HKD weakened to HKD5.80 to SGD1.00 now. Unfortunately this is also the neckline and it is beginning its retreat.

This is also confirmed by the Stochastic and RSI which are already at their peak. My guess is that the counter mght still hover a little while to collect enough momentum for the down slide.