From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
Compared to its peers in the forex, usdhkd gave its buyers a return that ranked 21st in terms of percentage change since the previous day.
Of note is that the 100 hour changed directions on usdhkd; it is now pointing up.
For additional context, note that price has gone up 1 out of the past 30 days.
Price action traders in particular will want to note that the 14 day period 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 0 out of the past 10 days.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
Volatility for usdhkd has been contracting over the past two weeks relative to volatility over the past month.
For additional context, note that price has gone up 0 out of the past 14 days.
It’s been a feast for bears operating on an hourly timeframe, as usdhkd has now gone down 5 of the past 5 hours.