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Medium term Channel Down. Short.

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SGDHKD is on a 1D Channel Down formation (MACD = -0.016, B/BP = -0.0239) that is near printing its new Lower High (RSI = 48.006, Highs/Lows = 0). Even the 1W pattern indicating a long term selling pressure (Highs/Lows = -0.0442, B/BP = -0.1618, RSI = 38.403). We are taking a short, TP = 5.6600 but on the first sign of a bounce on 5.7088, we will book the profit earlier.

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