USD/HKD Down 1 Pips On 4 Hour Chart, Moves Down For NA NA; in a Downtrend Over Past 14 Days

USD/HKD 4 Hour Price Update

Updated July 31, 2020 05:10 AM GMT (01:10 AM EST)

USD/HKD is down 1 pips (0%) since the last 4 hour candle (opening the current 4 hour candle near 7.75), marking NA NA NA. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 19th in terms of percentage change since the last 4 hour candle.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD is down 1 pips (0%) since yesterday (opening today near 7.7501), marking NA NA NA. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 26th in terms of percentage change since yesterday. The price chart of USD/HKD below illustrates.

USD/HKD

USD/HKD Technical Analysis

Notably, the current price of USD/HKD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 5.4 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 8 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.