USDHKD Down 2 Pips Over Past Hour, Entered Today Down For 2nd Day In A Row; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated January 8, 2021 3:15 GMT)

At the time of this writing, USDHKD’s rate is down -2 pips (0%) from the hour prior. USDHKD has seen its price go down 5 out of the past 5 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. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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 down 1 pips (0%) since yesterday (opening today near 7.75305), marking 2nd day in a row it is unchanged. Relative to other instruments in the Forex asset class, USDHKD ranked 25th yesterday in terms of percentage price change. Let’s take a look at 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 7.7525, 7.7521, 7.751 and 7.751 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.