USDHKD Up 7 Pips in Last Hour, Entered Today Down For 3rd Day In A Row; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated November 20, 2020 2:14 GMT)

Currently, USDHKD’s rate is up 7 pips (0.01%) from the hour prior. USDHKD has seen its price go down 26 out of the past 30 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100, 20 and 200 hour moving averages, resulting in them so that price is now turning above them. 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 1 pips (0%) since the day prior (opening today near 7.7525), marking 3rd day in a row it is flat. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 16th for the day in terms of price change. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7521, 7.7507, 7.7506 and 7.7538 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 4 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 4 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!