(Last Updated April 30, 2021 4:15 GMT)
At the time of this writing, USDHKD’s rate is up 15 pips (0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above it. 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)
The back and forth price flow continues for USDHKD, which started today off at 7.76346, up 10 pips 0.01% from the day prior. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 22nd for the day in terms of price change. Let’s take a look at price chart of USDHKD.
USDHKD Technical Analysis
Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7687, 7.7653, 7.759 and 7.7549 respectively, and thus may be at a key juncture along those timeframes. 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 day timeframe. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone down 7 them.