USDHKD Down 1 Pips Over Past Hour, Eyes 20, 50, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 10, 2021 18:15 GMT)

Currently, USDHKD’s rate is down 1 pips (0%) from the hour prior. USDHKD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 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)

The back and forth price flow continues for USDHKD, which started today off at 7.75977, up 5 pips 0.01% from the day prior. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 19th in terms of percentage change since the day prior. Let’s take a look at price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.762, 7.7659, 7.7621 and 7.7568 respectively, and thus may be at a key juncture along those timeframes. 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 22.3 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 down. Or to simplify this another way, note that out of the past 30 days USDHKD’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.