USD/HKD Down 1 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated November 7, 2022 1:35 GMT)

At the time of this writing, USDHKD’s rate is down -1 pips (0%) from the hour prior. USDHKD has seen its price go down 10 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD entered today at 7.8493, down 5 pips (0.01%) from the day prior. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 21st for the day in terms of price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD crossed below its 20 and 50 day moving averages yesterday. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone down 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.