USDHKD Down 1 Pips in Last Hour, 2 Day Up Streak Ended; Nears 20, 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated April 29, 2021 2:15 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 50 hour timeframe. 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 entered today at 7.7625, down 1 pips (0%) from yesterday. Relative to other instruments in the Forex asset class, USDHKD ranked 17th yesterday in terms of percentage price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 5 them.