USDHKD Down 2 Pips Over Past Hour, Came Into Today Down For the 4th Consecutive Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 6, 2021 23:13 GMT)

At the time of this writing, USDHKD’s rate is down -2 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 50 hour timeframe. 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 9 pips (0.01%) since the previous day (opening today near 7.77054), marking the 4th consecutive day it has gone down. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 26th in terms of percentage change since the previous day. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.