USDHKD Down 1 Pips Over Past Hour, Makes Big Move Relative to Past Month; Entered Today Down For 12th Straight Day

Hourly Update

(Last Updated October 8, 2020 2:15 GMT)

Currently, USDHKD’s rate is down -1 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100, 20, 200 and 50 hour moving averages have been crossed, so that price is now turning below them. 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 0 pips (0%) since the previous day (opening today near 7.74989), marking 12th straight day it is unchanged. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 22nd for the day in terms of price change. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDHKD crossed below its 20 day moving average yesterday. For additional context, note that price has gone up 1 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!