USD/HKD Down 1 Pips in Last Hour, Makes Big Move Relative to Past Month; Entered Today Down For 9th Consecutive Day

Hourly Update

(Last Updated October 5, 2020 16:21 GMT)

At the moment, USDHKD’s rate is down -0.0001 (0%) from the hour prior. USDHKD has seen its price go down 14 out of the past 14 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDHKD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on USDHKD; it is now pointing down. 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 is down 1 pips (0%) since yesterday (opening today near 7.75018), marking 9th consecutive day it is unchanged. Relative to other instruments in the Forex asset class, USDHKD ranked 15th yesterday in terms of percentage price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7499, 7.75, 7.7505 and 7.7573 respectively, and thus may be at a key juncture along those timeframes. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone up 1 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.