USDHKD Down 3 Pips Over Past Hour, in an Uptrend Over Past 90 Days; is Inching Close to 20, 50, 100 and 200 Day Averages
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
(Last Updated January 18, 2021)
Welcome to the news page for USDHKD (USDHKD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
United States Foreign Bond Investment | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Net Long-Term Tic Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Overall Net Capital Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Joe Biden’s Inauguration | NA | US Dollar | USD | 2021-01-20 | 00:00 GMT | ||
United States NAHB Housing Market Index | Jan 2021 | US Dollar | USD | 2021-01-20 | 15:00 GMT | 86 |
If we observe the 90 and 30 day timeframes, we see an uptrend in place for USDHKD.
Nuances in the trend on USDHKD can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 50 are bullish, implying a upward trend, save for a drop that occurred about 7 weeks ago. Moreover, today we saw the 50 moving average turn 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 CHFJPY. Over the past 14 days, however, USDJPY is the asset most correlated to USDHKD. Alternatively, GBPNZD has been the asset least correlated with USDHKD — but over the past two weeks, the asset least correlated with USDHKD has been GBPCHF. The chart below illustrates USDHKD against its least correlated assets.
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At the moment, USDHKD’s rate is down -36 pips (-0.05%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as USDHKD has now gone up 4 of the past 5 weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDHKD’s weekly price action over the past 52 weeks can be seen via the chart below.
Clearest trend on the monthly is apparent at the 24 month timeframe.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
It’s been a feast for bears operating on an hourly timeframe, as usdhkd has now gone down 5 of the past 5 hours.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
Of note is that the 50 hour changed directions on usdhkd; it is now pointing down.
For additional context, note that price has gone down 11 out of the past 30 days.
Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
It’s been a feast for bears operating on an hourly timeframe, as usdhkd has now gone down 28 of the past 30 hours.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Price action traders may also wish to note that we see a pin bar candlestick pattern on usdhkd.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.