USDHKD Down 0 Pips Over Past Hour, is Inching Close to 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 24, 2020 0:13 GMT)

At the time of this writing, USDHKD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 14 of the past 14 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on USDHKD; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USDHKD continues; to start today, it came in at a price of 7.75002, down 0 pips (0%) since the day prior. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7499, 7.7503, 7.7506 and 7.7589 respectively, and thus may be at a key juncture along those timeframes. For additional context, note that price has gone up 1 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram