USDHKD Down 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 6 Day Up Streak Snapped

Hourly Update

(Last Updated February 24, 2021 0:15 GMT)

Currently, USDHKD’s rate is down -2 pips (0%) from the hour prior. USDHKD has seen its price go down 14 out of the past 14 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of USDHKD’s 6 day down streak; price ended the previous day up 4 pips (0.01%) to finish the day at a rate of 7.75339. Relative to other instruments in the Forex asset class, USDHKD ranked 27th the previous day in terms of percentage price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that 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 50 day average, which is 6.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 30 days.