USD/HKD Down 1 Pips Over Past Hour, Moves Up For the 2nd Straight Day; is Inching Close to 20, 50 and 100 Day Averages

Hourly Update

(Last Updated April 22, 2022 1:40 GMT)

At the moment, USDHKD’s rate is down -1 pips (0%) from the hour prior. USDHKD has seen its price go down 14 out of the past 14 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 20 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)

USDHKD is up 10 pips (0.01%) since the previous day (opening today near 7.8448), marking the 2nd straight day it has gone up. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 25th for the day in terms of price change. Below is a 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. 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 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone up 8 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!