(Last Updated October 8, 2021 10:13 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 12 out of the past 14 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, with price now being below 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)
The back and forth price flow continues for USDHKD, which started today off at 7.78525, down 14 pips 0.02% from the previous day. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 27th in terms of percentage change since the previous day. Here is a price chart of USDHKD.
USDHKD Technical Analysis
Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7839, 7.7822, 7.7737 and 7.7674 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 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 14 them.