USD/HKD Down 1 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated November 23, 2021 1:37 GMT)

At the time of this writing, USDHKD’s rate is down 1 pips (0%) from the hour prior. USDHKD has seen its price go down 12 out of the past 14 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. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDHKD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. 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 7.78985, down 2 pips (0%) from the day prior. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 26th in terms of percentage change since the day prior. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7853, 7.7831, 7.7802 and 7.7722 respectively, and thus may be at a key juncture along those timeframes. Volatility for USDHKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.