USD/HKD Down 4 Pips Over Past Hour, Came Into Today Up For the 2nd Day In A Row; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated September 30, 2021 21:31 GMT)

At the moment, USDHKD’s rate is down -4 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 9 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 and 50 hour moving averages, resulting in them so that price is now turning below them. 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 up 18 pips (0.02%) since the day prior (opening today near 7.78499), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 17th for the day in terms of price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7803, 7.7809, 7.7725 and 7.7665 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 40.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 5 them.