USD/HKD Down 0 Pips On 4 Hour Chart, Entered Today Down For NA NA; is Inching Close to 20, 50, 100 and 200 Day Averages

USD/HKD 4 Hour Price Update

Updated August 03, 2020 05:10 AM GMT (01:10 AM EST)

USD/HKD is down 0 pips (0%) since the last 4 hour candle (opening the current 4 hour candle near 7.7502), marking NA NA NA. Relative to other instruments in the Forex asset class, USD/HKD ranked 17th the last 4 hour candle in terms of percentage price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD is down 2 pips (0%) since the previous day (opening today near 7.75027), marking NA NA NA. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 25th for the day in terms of price change. Below is a price chart of USD/HKD.

USD/HKD

USD/HKD Technical Analysis

Notably, the current price of USD/HKD 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. 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 50 day average, which is 3.7 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 5 out of the past 14 days.