USD/HKD Up 4 Pips On 4 Hour Chart, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days

USD/HKD 4 Hour Price Update

Updated July 21, 2020 09:06 AM GMT (05:06 AM EST)

USD/HKD entered the current 4 hour candle at 7.7514, up 4 pips (0.01%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/HKD ranked 17th the last 4 hour candle in terms of percentage price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/HKD entered today at 7.75199, down 2 pips (0%) from yesterday. Compared to its peers in the Forex, USD/HKD gave its buyers a return that ranked 29th in terms of percentage change since yesterday. Here is a price chart of USD/HKD.

USD/HKD Technical Analysis

Coming into today USD/HKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7512, 7.7509, 7.7512 and 7.7652 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 7.9 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. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!