USD/HKD Up 11 Pips Over Past 4 Hours, 2 Day Down Streak Ended; Eyes 20, 50, 100 and 200 Day Averages

USD/HKD 4 Hour Price Update

Updated May 21, 2020 05:08 PM GMT (01:08 PM EST)

USD/HKD is up 11 pips (0.01%) since the last 4 hour candle (opening the current 4 hour candle near 7.755), marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, USD/HKD ranked 14th the last 4 hour candle in terms of percentage price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/HKD, which started today off at 7.75035, down 3 pips 0% from the day prior. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 29th for the day in terms of price change. Here is a price chart of USD/HKD.

USD/HKD Technical Analysis

Coming into today USD/HKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 8.1 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.