(Last Updated November 15, 2021 18:13 GMT)
Currently, USDHKD’s rate is up 5 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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)
A moment of silence, please, for the end of USDHKD’s 4 day up streak; price ended the previous day down 25 pips (-0.03%) to finish the day at a rate of 7.78912. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 30th in terms of percentage change since the previous day. Here is a price chart of USDHKD.
USDHKD Technical Analysis
The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 74.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.