USDHKD Down 9 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated May 3, 2021 2:14 GMT)

At the moment, USDHKD’s rate is down -9 pips (-0.01%) from the hour prior. USDHKD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD is up 35 pips (0.05%) since the previous day (opening today near 7.767), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 19th for the day in terms of price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

First things first: USDHKD crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 16 them. Also, candlestick traders! Note we see doji pattern appearing here as well.