USD/HKD Down 5 Pips in Last Hour, 2 Day Up Streak Ended; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated December 29, 2021 1:40 GMT)

Currently, USDHKD’s rate is down -5 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 5 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Of note is that the 20 and 50 hour changed directions on USDHKD; they are now pointing down. 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)

The choppiness in the recent daily price action of USDHKD continues; to start today, it came in at a price of 7.79815, down 5 pips (0.01%) since the previous day. Compared to its peers in the Forex, USDHKD gave its buyers a return that ranked 13th in terms of percentage change since the previous day. Let’s take a look at 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 7.7988, 7.7913, 7.7869 and 7.7772 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 13 out of the past 30 days.