(Last Updated July 2, 2020)
Hello! This is the news page for USDHKD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
For USDHKD, we have to zoom out to the 90 day timeframe and beyond to see a clear trend; at that point, a very slight downtrend becomes apparent.
USDHKD’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bearish, suggesting the trend is generally downward, save for a spike that occurred about 3 weeks ago.
Below is a chart showing USDHKD’s price with its moving averages.
In terms of correlations over the past week for USDHKD, it has demonstrated the strongest correlation with ZARJPY. Over the past 14 days, however, the asset showing the strongest correlation to USDHKD is USDNOK. On the flip side, USDCNH has been the asset least correlated with USDHKD — the same as it has been over the past two weeks as well. The chart below illustrates USDHKD against its least correlated assets.
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Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing.
For additional context, note that price has gone up 1 out of the past 10 days.
Volatility for usd/hkd has been contracting over the past two weeks relative to volatility over the past month.
Relative to other instruments in the forex asset class, usd/hkd ranked 22nd the previous day in terms of percentage price change.
Volatility for usd/hkd has been contracting over the past two weeks relative to volatility over the past month.
Volatility for usd/hkd has been contracting over the past two weeks relative to volatility over the past month.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
Or to simplify this another way, note that out of the past 30 days usd/hkd’s price has gone down 7 them.
Volatility for usd/hkd has been contracting over the past two weeks relative to volatility over the past month.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.