USDHKD Down 2 Pips Over Past Hour, Eyes 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated November 18, 2020 2:14 GMT)

Currently, USDHKD’s rate is down 2 pips (0%) from the hour prior. USDHKD has seen its price go down 28 out of the past 30 hours, thus creating some compelling opportunities for bears. 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 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)

The choppiness in the recent daily price action of USDHKD continues; to start today, it came in at a price of 7.7527, down 2 pips (0%) since the previous day. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 18th for the day in terms of price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, 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. 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 20 day average, which is 8.8 pips away. 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. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone up 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!