USDHKD Down 0 Pips in Last Hour, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 15, 2020 23:14 GMT)

At the time of this writing, USDHKD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 14 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. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD is down 3 pips (0%) since yesterday (opening today near 7.74981), marking 21st day in a row it is unchanged. Relative to other instruments in the Forex asset class, USDHKD ranked 23rd yesterday in terms of percentage price change. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

First things first: USDHKD crossed below its 20 day moving average yesterday. Volatility for USDHKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. For additional context, note that price has gone up 0 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram