USDHKD Down 5 Pips Over Past Hour, 2 Day Down Streak Broken; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated January 1, 2021 3:15 GMT)

Currently, USDHKD’s rate is down -5 pips (-0.01%) from the hour prior. USDHKD has seen its price go down 27 out of the past 30 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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)

The choppiness in the recent daily price action of USDHKD continues; to start today, it came in at a price of 7.75377, up 14 pips (0.02%) since the day prior. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 24th for the day in terms of price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.752, 7.7519, 7.7509 and 7.7509 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 17.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 9 them.