USDHKD Down 3 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated April 26, 2021 3:14 GMT)

Currently, USDHKD’s rate is down 3 pips (0%) from the hour prior. USDHKD has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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)

USDHKD is down 8 pips (0.01%) since the day prior (opening today near 7.75904), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that the current price of USDHKD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 14 out of the past 30 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!