USD/HKD Down 0 Pips Over Past Hour, 2 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart
It’s been a feast for bears operating on an hourly timeframe, as usdhkd has now gone down 30 of the past 30 hours.
USDHKD
(Last Updated November 27, 2020)
Welcome to the news page for USDHKD (USDHKD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on USDHKD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
USDHKD Moving Averages
USDHKD’s moving averages tell a multi-facted story about its trend. The 50 and 100 day averages suggest a bullish trend, as they are pointing upwards, while the 20 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Moreover, today we saw the 20 moving average turn bearish.
Below is a chart showing USDHKD’s price with its moving averages.
As for assets in the Forex asset class USDHKD has been correlated to over the past week, it has been most correlated with GBPUSD. Over the past 14 days, however, the asset showing the strongest correlation to USDHKD is USDCHF. Alternatively, USDCNH has been the asset least correlated with USDHKD — but over the past two weeks, EURJPY has been the asset least correlated with USDHKD. The chart below illustrates USDHKD against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, USDHKD’s rate is down -0.0014 (-0.02%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Most noteworthy in the world of moving averages on the weekly chart is that the 20 week moving average has been crossed, with price now being below it. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows USDHKD’s price action over the past year.
USDHKD: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
USD/HKD Down 1 Pips in Last Hour, Came Into Today Down For the 2nd Straight Day; Crosses 100 Day Moving Average
Compared to its peers in the forex, usdhkd gave its buyers a return that ranked 15th in terms of percentage change since the day prior.
USD/HKD Up 4 Pips On Hourly Chart, 2 Day Up Streak Broken; Crosses 50 Day Moving Average
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
USD/HKD Down 1 Pips in Last Hour, Moves Down For 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 5 out of the past 14 days.
USD/HKD Down 1 Pips On Hourly Chart, Eyes 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
USDHKD Down 2 Pips in Last Hour, 3 Day Up Streak Ended; Crosses 20 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
USDHKD Down 1 Pips in Last Hour, 3 Day Up Streak Snapped; Crosses 20 Day Moving Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
USDHKD Up 7 Pips in Last Hour, Entered Today Down For 3rd Day In A Row; Eyes 20, 50, 100 and 200 Day Averages
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
USDHKD Down 4 Pips On Hourly Chart, Nears 20, 50, 100 and 200 Day Moving Averages; Pin Bar Pattern Appearing on Chart
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
USDHKD Down 2 Pips Over Past Hour, Eyes 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.