USD/HKD Down 1 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Price Base in Formation Over Past 90 Days

USD/HKD 4 Hour Price Update

Updated July 29, 2020 01:16 AM GMT (09:16 PM EST)

USD/HKD is down 1 pips (0%) since the last 4 hour candle (opening the current 4 hour candle near 7.7504), marking NA NA NA. Relative to other instruments in the Forex asset class, USD/HKD ranked 22nd the last 4 hour candle in terms of percentage price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD entered today at 7.75033, down 0 pips (0%) from the day prior. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 24th in terms of percentage change since the day prior. Let’s take a look at price chart of USD/HKD.

USD/HKD

USD/HKD Technical Analysis

The first thing we should note is that USD/HKD 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 3.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days USD/HKD’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.