USD/HKD Down 0 Pips Over Past Hour, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2020 1:28 GMT)

Currently, USDHKD’s rate is down 0 (0%) from the hour prior. USDHKD has seen its price go down 24 out of the past 30 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 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD is up 12 pips (0.02%) since the day prior (opening today near 7.7548), marking the 2nd straight day an upward move has occurred. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 20th for the day in terms of price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD crossed above its 200 day moving average yesterday. 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 200 day average, which is 5.9 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. 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 up 6 out of the past 14 days.