USDHKD Down 2 Pips Over Past Hour, Eyes 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 9, 2021 20:15 GMT)

At the moment, USDHKD’s rate is down 2 pips (0%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

USDHKD entered today at 7.75929, down 0 pips (0%) from the day prior. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 18th for the day in terms of price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD 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 200 day average, which is 25.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone down 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!