USDHKD Down 1 Pips Over Past Hour, Came Into Today Up For the 2nd Day In A Row; Nears 20, 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated February 25, 2021 0:15 GMT)

Currently, USDHKD’s rate is down -1 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 25 of the past 30 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 5 pips (0.01%) since the previous day (opening today near 7.75388), marking the 2nd day in a row it has gone up. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 23rd for the day in terms of price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 10.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 14 days.