USDHKD Down 4 Pips On Hourly Chart, Nears 20, 50, 100 and 200 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated November 19, 2020 2:15 GMT)

At the time of this writing, USDHKD’s rate is down -4 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 9 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. 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 1 pips (0%) since yesterday (opening today near 7.75256), marking 2nd straight day it is unchanged. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 15th for the day in terms of price change. Here 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 5.9 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. For additional context, note that price has gone up 6 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.