USD/HKD Down 0 Pips in Last Hour, 26 Day Up Streak Broken; Breaks Above 20 Day Average
From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
USDHKD
(Last Updated September 21, 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
If we observe the 90 and 30 day timeframes, we see a downtrend in place for USDHKD.
USDHKD Moving Averages
The moving averages on USDHKD indicate a trend that is clearly bearish.
Below is a chart showing USDHKD’s price with its moving averages.
In terms of correlations over the past week for USDHKD, it has been most correlated with USDCHF. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDHKD is NZDCAD. On the flip side, the asset least correlated with USDHKD over the past week has been AUDCHF, but over the past two weeks, the asset least correlated with USDHKD has been GBPCAD. See the chart below to observe the recent price action in USDHKD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the time of this writing, USDHKD’s rate is down -0.0002 (0%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as USDHKD has now gone down 9 of the past 10 weeks. 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. 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 Down 0 Pips in Last Hour, 26 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart
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.
USDHKD Down 0 Pips Over Past Hour, Makes Big Move Relative to Past Month; Came Into Today Down For 26th Straight Day
Of note is that the 100 hour changed directions on usdhkd; it is now pointing up.
USDHKD Down 1 Pips On Hourly Chart, Came Into Today Down For 25th Day In A Row; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 1 out of the past 30 days.
USDHKD Down 0 Pips Over Past Hour, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart
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.
USDHKD Down 1 Pips in Last Hour, Makes Big Move Relative to Past Month; Price Base in Formation Over Past 14 Days
For additional context, note that price has gone up 0 out of the past 10 days.
USDHKD Down 0 Pips in Last Hour, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
USDHKD Down 1 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Crosses 20 Day Moving Average
Volatility for usdhkd has been contracting over the past two weeks relative to volatility over the past month.
USDHKD Down 0 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Nears 20, 50, 100 and 200 Day Moving Averages
For additional context, note that price has gone up 0 out of the past 14 days.
USDHKD Down 1 Pips Over Past Hour, Makes Big Move Relative to Past Month; Entered Today Down For 19th Straight Day
It’s been a feast for bears operating on an hourly timeframe, as usdhkd has now gone down 5 of the past 5 hours.