USD/HKD Down 0 Pips Over Past 4 Hours, Moves Down For NA NA; Pin Bar Pattern Appearing on Chart

USD/HKD 4 Hour Price Update

Updated April 09, 2020 01:10 AM GMT (09:10 PM EST)

USD/HKD is down 0 pips (0%) since the previous 4 hours (opening the current 4 hour candle near 7.7518), marking NA NA NA. Out of the 36 instruments in the Forex asset class, USD/HKD ended up ranking 24th for the four-hour candle in terms of price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD is down 3 pips (0%) since the previous day (opening today near 7.7518), marking NA NA NA. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 31st for the day in terms of price change. The price chart of USD/HKD below illustrates.

USD/HKD Technical Analysis

Coming into today USD/HKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7532, 7.7665, 7.7711 and 7.8025 respectively, and thus may be at a key juncture along those timeframes. Volatility for USD/HKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days USD/HKD’s price has gone down 13 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDHKD; just 3 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The “reset” is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates….When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered….When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.