USDHKD Down 2 Pips On Hourly Chart, 2 Day Down Streak Broken; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated April 22, 2021 2:15 GMT)

At the moment, 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 12 of the past 14 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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)

The back and forth price flow continues for USDHKD, which started today off at 7.76303, up 15 pips 0.02% from yesterday. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 17th in terms of percentage change since yesterday. Let’s take a look at 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.