(Last Updated April 8, 2021 3:15 GMT)
At the time of this writing, USDHKD’s rate is down -13 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 13 of the past 14 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. 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 89 pips (0.11%) since the day prior (opening today near 7.78499), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 11th in terms of percentage change since the day prior. The price chart of USDHKD below illustrates.
USDHKD Technical Analysis
Coming into today USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!