(Last Updated August 5, 2022 1:36 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 5 of the past 5 hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 100, 200, 20 and 50 hour moving averages, resulting in them with price now being below them. 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)
USDHKD is down 1 pips (0%) since yesterday (opening today near 7.8497), marking 5th day in a row it is flat. Relative to other instruments in the Forex asset class, USDHKD ranked 21st yesterday in terms of percentage price change. Here is a price chart of USDHKD.
USDHKD Technical Analysis
Coming into today 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. Volatility for USDHKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.