USD/HKD Down 0 Pips Over Past 4 Hours, 2 Day Down Streak Broken; Crosses 50 Day Moving Average

USD/HKD 4 Hour Price Update

Updated July 22, 2020 09:19 AM GMT (05:19 AM EST)

USD/HKD is down 0 pips (0%) since the previous 4 hours (opening the current 4 hour candle near 7.7511), marking NA NA NA. Out of the 37 instruments in the Forex asset class, USD/HKD ended up ranking 18th for the four-hour candle in terms of price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/HKD, which started today off at 7.75088, down 2 pips 0% from yesterday. Relative to other instruments in the Forex asset class, USD/HKD ranked 25th yesterday in terms of percentage price change. Below is a price chart of USD/HKD.

USD/HKD Technical Analysis

First things first: USD/HKD crossed below its 50 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 50 day average, which is 0.8 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days USD/HKD’s price has gone up 7 them.