USDHKD Down 2 Pips On Hourly Chart, Moves Down For 2nd Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated April 6, 2021 2:14 GMT)

At the time of this writing, USDHKD’s rate is down -2 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 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 is down 3 pips (0%) since the previous day (opening today near 7.77571), marking 2nd day in a row it is unchanged. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 19th for the day in terms of price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7679, 7.7597, 7.7561 and 7.7534 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 16 them.