USDHKD Down 0 Pips Over Past Hour, 3 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated January 15, 2021 3:15 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 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDHKD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

After 3 up days, USDHKD snaps its streak, falling 3 pips (0%) over the past day to close at an exchange rate of 7.75305. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 19th in terms of percentage change since yesterday. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD crossed below its 20 day moving average yesterday. 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 down 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!