USD/HKD Down 2 Pips in Last Hour, Came Into Today Down For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated September 23, 2021 1:57 GMT)

At the time of this writing, USDHKD’s rate is down -2 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on USDHKD; it is now pointing down. 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)

USDHKD is down 8 pips (0.01%) since yesterday (opening today near 7.78569), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, USDHKD ranked 20th yesterday in terms of percentage price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that the current price of USDHKD 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. 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 16 out of the past 30 days.