USD/HKD Down 0 Pips On 4 Hour Chart, Nears 20, 50, 100 and 200 Day Moving Averages; Pin Bar Pattern Appearing on Chart

USD/HKD 4 Hour Price Update

Updated June 26, 2020 01:07 PM GMT (09:07 AM EST)

USD/HKD is down 0 pips (0%) since the last 4 hour candle (opening the current 4 hour candle near 7.7503), marking NA NA NA. Relative to other instruments in the Forex asset class, USD/HKD ranked 12th 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 is down 1 pips (0%) since yesterday (opening today near 7.75039), marking NA NA NA. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 32nd for the day in terms of price change. Let’s take a look at price chart of USD/HKD.

USD/HKD Technical Analysis

The first thing we should note is that the current price of USD/HKD 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. Volatility for USD/HKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.