USD/HKD 4 Hour Price Update
Updated May 25, 2020 09:08 PM GMT (05:08 PM EST)
The back and forth price flow continues for USD/HKD, which started the current 4 hour candle off at 7.7547, up 13 pips 0.02% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/HKD ended up ranking 15th for the four-hour candle in terms of price change.
USD/HKD End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/HKD is up 19 pips (0.03%) since the previous day (opening today near 7.757), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, USD/HKD ranked 17th the previous day in terms of percentage price change. Let’s take a look at price chart of USD/HKD.
USD/HKD Technical Analysis
Notably, the current price of USD/HKD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 36.1 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDHKD; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
As long as China keeps proposing new laws, I’m buying this pair for the rest of the year! lol