USD/HKD Down 0 Pips On Hourly Chart, 2 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated May 10, 2022 1:36 GMT)

At the moment, USDHKD’s rate is down 0 pips (0%) from the hour prior. USDHKD has seen its price go down 10 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDHKD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 7.84941, down 3 pips (0%) from yesterday. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 23rd for the day in terms of price change. 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. 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 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.