USD/HKD Down 0 Pips Over Past Hour, 2 Day Up Streak Ended; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated December 20, 2021 1:35 GMT)

Currently, USDHKD’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Of note is that the 50 hour changed directions on USDHKD; it is 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 entered today at 7.80162, down 27 pips (0.03%) from the previous day. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 21st in terms of percentage change since the previous day. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.