USDHKD Down 0 Pips On Hourly Chart, Makes Big Move Relative to Past Three Months; Breaks Above 20 and 50 Day Averages

Hourly Update

(Last Updated October 13, 2020 2:15 GMT)

At the time of this writing, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDHKD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 and 200 hour changed directions on USDHKD; they are now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USDHKD, which started today off at 7.75001, up 18 pips 0.02% from the day prior. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

First things first: USDHKD crossed above its 20 and 50 day moving averages yesterday. For additional context, note that price has gone up 1 out of the past 10 days.