USDHKD Down 0 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; Crosses 20 and 50 Day Moving Averages

Hourly Update

(Last Updated February 12, 2021 17:17 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 30 of the past 30 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 200 hour changed directions on USDHKD; it is now pointing up. 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 5 pips (0.01%) since the previous day (opening today near 7.7527), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 25th in terms of percentage change since the previous day. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

First things first: USDHKD crossed above its 20 and 50 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 1.7 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 9 out of the past 30 days.