USD/HKD Down 0 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated November 24, 2022 1:37 GMT)

Currently, USDHKD’s rate is down 0 pips (0%) from the hour prior. USDHKD has seen its price go down 8 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 50 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 up 11 pips (0.01%) since yesterday (opening today near 7.8183), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, USDHKD ranked 18th yesterday in terms of percentage price change. Below is a price chart of USDHKD.

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 7.837, 7.8445, 7.8462 and 7.8419 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 186.6 pips away. 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. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone down 7 them.