USDHKD Up 9 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Bearish Engulfing Pattern Present

Hourly Update

(Last Updated April 23, 2021 2:14 GMT)

At the time of this writing, USDHKD’s rate is up 9 pips (0.01%) from the hour prior. USDHKD has seen its price go down 26 out of the past 30 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. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 7.7598, down 32 pips 0.04% from the day prior. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 18th 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 moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.