For additional context, note that price has gone up 8 out of the past 14 days.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Volatility for usd/hkd has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
The closest is the 200 day average, which is 57.9 pips away.
Will be monitoring this pair in the coming weeks to see which way it tends to push!
Or to simplify this another way, note that out of the past 14 days cad/chf’s price has gone down 9 them.
For additional context, note that price has gone up 7 out of the past 10 days.
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 8.15% from the day before — and down 42.89% from the same day the week before.
This imputes a buy/sell ratio of 0, which is quite bearish.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.