USD/HKD Down 1 Pips On 4 Hour Chart, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 30 Days

USD/HKD 4 Hour Price Update

Updated March 24, 2020 03:19 AM GMT (11:19 PM EST)

USD/HKD is down 1 pips (0%) since the previous 4 hours (opening the current 4 hour candle near 7.7561), marking NA NA NA. Out of the 36 instruments in the Forex asset class, USD/HKD ended up ranking 20th for the four-hour candle in terms of price change.

USD/HKD Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

USD/HKD is down 29 pips (0.04%) since yesterday’s New York session (opening today’s post-New York session near 7.75515), marking the 2nd day in a row a decline has happened. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 26.02% from the day prior, but up 124.17% from the same day the week before. Relative to other instruments in the Forex asset class, USD/HKD ranked 27th yesterday’s New York session in terms of percentage price change. Here is a price chart of USD/HKD.

USD/HKD Technical Analysis

The first thing we should note is that 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 163 pips away. Something else of critical noteworthiness is that USD/HKD’s momentum/trend on a 90 day basis may be decelerating. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 15 out of the past 30 days.