USDHKD Down 0 Pips Over Past Hour, Came Into Today Down For 2nd Day In A Row; Nears 20, 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated February 16, 2021 23:15 GMT)

At the time of this writing, USDHKD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 30 of the past 30 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)

USDHKD is down 1 pips (0%) since the day prior (opening today near 7.75273), marking 2nd day in a row it is unchanged. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7522, 7.7526, 7.7519 and 7.7513 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 50 day average, which is 1.6 pips away. Volatility for USDHKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.