USDHKD Up 5 Pips in Last Hour, Entered Today Down For the 4th Consecutive Day; Crosses 200 Day Moving Average

Hourly Update

(Last Updated June 7, 2021 17:15 GMT)

At the time of this writing, USDHKD’s rate is up 5 pips (0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 26 of the past 30 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDHKD. Given that we see an uptrend on the 20, 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on USDHKD; it is now pointing up. 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)

USDHKD is down 14 pips (0.02%) since yesterday (opening today near 7.75659), marking the 4th consecutive day it has gone down. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 21st in terms of percentage change since yesterday. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDHKD crossed below its 200 day moving average yesterday. 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 200 day average, which is 0.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!