USDHKD Down 2 Pips in Last Hour, 3 Day Up Streak Snapped; Nears 20, 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated July 23, 2021 2:13 GMT)

Currently, USDHKD’s rate is down -2 pips (0%) from the hour prior. USDHKD has seen its price go down 27 out of the past 30 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend 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)

A moment of silence, please, for the end of USDHKD’s 3 day up streak; price ended the day prior down 18 pips (-0.02%) to finish the day at a rate of 7.77115. Relative to other instruments in the Forex asset class, USDHKD ranked 20th the day prior in terms of percentage price change. The price chart of USDHKD below illustrates.

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 20 day average, which is 40.7 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. Or to simplify this another way, note that out of the past 14 days USDHKD’s price has gone up 6 them. And for candlestick traders, a special treat: there are doji and evening star patterns showing up on the charts as well. Rejoice!