(Last Updated October 9, 2020 2:15 GMT)
Currently, 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. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Of note is that the 20 and 50 hour changed directions on USDHKD; they are now pointing down. 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 3 pips (0%) since the previous day (opening today near 7.75016), marking 13th consecutive day it is flat. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 19th for the day in terms of price change. Here is a price chart of USDHKD.
USDHKD Technical Analysis
Notably, USDHKD crossed below its 50 day moving average yesterday. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone up 1 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.