USDHKD Down 3 Pips in Last Hour, Makes Big Move Relative to Past Three Months; 2 Day Down Streak Broken

Hourly Update

(Last Updated November 17, 2020 2:14 GMT)

Currently, USDHKD’s rate is down -3 pips (0%) from the hour prior. USDHKD has seen its price go down 28 out of the past 30 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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)

The choppiness in the recent daily price action of USDHKD continues; to start today, it came in at a price of 7.75289, up 10 pips (0.01%) since the day prior. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 21st in terms of percentage change since the day prior. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that the current price of USDHKD 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 200 day average, which is 11.4 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.