USDHKD Down 2 Pips On Hourly Chart, 2 Day Up Streak Snapped; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated May 4, 2021 2:14 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 26 of the past 30 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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)

The back and forth price flow continues for USDHKD, which started today off at 7.76645, down 6 pips 0.01% from yesterday. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, 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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 7 out of the past 14 days.