USD/HKD Down 1 Pips in Last 4 Hours, in a Downtrend Over Past 14 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

USD/HKD 4 Hour Price Update

Updated July 30, 2020 01:11 AM GMT (09:11 PM EST)

USD/HKD is down 1 pips (0%) since the previous 4 hours (opening the current 4 hour candle near 7.7501), marking NA NA NA. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 15th in terms of percentage change since the previous 4 hours.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD is down 1 pips (0%) since the previous day (opening today near 7.75012), marking NA NA NA. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 23rd in terms of percentage change since the previous day. Here is a price chart of USD/HKD.

USD/HKD

USD/HKD Technical Analysis

The first thing we should note is that USD/HKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 5.3 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days USD/HKD’s price has gone up 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.