USDHKD Down 0 Pips Over Past Hour, Entered Today Down For 4th Straight Day; Crosses 50 Day Moving Average

Hourly Update

(Last Updated October 19, 2020 10:14 GMT)

At the moment, 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 14 of the past 14 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 2 pips (0%) since the previous day (opening today near 7.74989), marking 4th straight day it is flat. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 21st for the day in terms of price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDHKD crossed below its 50 day moving average yesterday. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 2 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!