USDHKD Down 12 Pips Over Past Hour, Entered Today Down For the 3rd Straight Day; Crosses 50 Day Moving Average

Hourly Update

(Last Updated September 3, 2021 2:13 GMT)

At the time of this writing, USDHKD’s rate is down -12 pips (-0.02%) from the hour prior. USDHKD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDHKD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD is down 52 pips (0.07%) since yesterday (opening today near 7.77141), marking the 3rd straight day a decline has happened. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 21st for the day in terms of price change. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD crossed below its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 and 30 day timeframes. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone up 6 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!