USD/HKD Down 1 Pips Over Past Hour, 2 Day Down Streak Snapped; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated January 12, 2022 1:36 GMT)

At the moment, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 100 hour changed directions on USDHKD; it is now pointing up. 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 entered today at 7.79553, up 5 pips (0.01%) from yesterday. 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

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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 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 14 days USDHKD’s price has gone down 7 them.