(Last Updated March 26, 2021 1:15 GMT)
At the moment, USDHKD’s rate is down -1 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 9 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
USDHKD End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDHKD is up 15 pips (0.02%) since the previous day (opening today near 7.76855), marking the 3rd consecutive day it has gone up. Relative to other instruments in the Forex asset class, USDHKD ranked 13th the previous day in terms of percentage price change. Let’s take a look at price chart of USDHKD.
USDHKD Technical Analysis
The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7621, 7.7564, 7.7545 and 7.7524 respectively, and thus may be at a key juncture along those timeframes. Volatility for USDHKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 6 them.